Globe Telecom Inc. deferred plans to sell its cell sites over the slow construction of towers by its partner tower companies, a top executive said Tuesday.
“We have paused in terms of looking into selling our towers. I think if you recall, we have started looking at selling our towers way back in February 2018,” Globe chief finance officer Rizza Maniego-Eala said.
“Even as we speak, we feel that the tower companies really need to set up their operations properly in the Philippines and also need to scale up. There could be delays on their end whether it could be regulatory or also caused by the pandemic,” she said.
Globe signed separate agreements with tower companies including Aboitiz InfraCapita Inc., ISOC-edotco, Transcend Towers Infrastructure (Philippines), CREI Philippines (CREI), Philtower and Frontier Towers & Associates to build cell sites in select areas nationwide.
“So we’ve moved our focus from selling towers to partnering with them on the build-to-suit basis,” Eala said.
