PLDT sells more telecoms towers for $164M

PLDT, Inc., said on Friday it signed a deal for the sale and leaseback of 650 telecoms towers for 9.2 billion pesos ($164.79 million).

The agreement brings the total number of towers sold by PLDT to 6,500 in three batches valued at P86 billion, as it lets go of passive assets to reduce debt and fund an expansion program. — Reuters