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Globe inks P20-billion sale and leaseback deal
Globe Telecom inked a sale and leaseback deal with PhilTower for 1,350 of its towers worth P20 billion.
The towers are located in the Visayas and Mindanao and will be leased back to Globe for an initial period of 15 years.
The deal, Globe’s third such agreement, brings the value of its telco tower sales to P91 billion. The funds will be used to finance its capital expenditures and maturing debts.