edotco and EdgePoint to acquire 5.9k telecom towers from PLDT for $1.47bn.

edotco, an integrated telecommunications infrastructure services company, and EdgePoint, a telecommunications tower operator, agreed to acquire 5.9k telecom towers from PLDT, a Philippine telecommunications, internet and digital service holdings company, for $1.47bn. The 2.973 towers located primarily in Luzon, Visayas and Mindanao will be acquired by edotco and 2.934 towers located in Luzon by EdgePoint. "This partnership with experienced international tower companies represents another milestone in PLDT’s strategic transformation. We expect to reap benefits in terms of a valuation uplift and capital reallocation with PLDT applying the proceeds to deleverage, further invest in the network, and return cash to shareholders via a special dividend," Manuel V. Pangilinan, PLDT Chairman.