edotco amongst bidders for tower jobs within the Philippines

KUALA LUMPUR: PLDT Inc, the Philippines’ greatest telecommunications and digital providers supplier by market worth, has picked up Edgepoint Infrastructure and edotco Group Sdn Bhd as the popular bidders for its native towers, in line with sources.

Edgepoint, backed by Digital Bridge and Abu Dhabi Funding Authority, is in unique talks with PLDT for a portfolio of about 3,000 towers within the larger Manila space, in line with the sources.

Telecommunications tower agency edotco has entered into unique discussions for an additional 3,000 tower outdoors of Manila, mentioned the sources. The 2 offers may very well be valued at about US$1.5bil (RM6.31bil) and agreements may very well be reached as quickly as within the coming days, the sources mentioned.

Talks might nonetheless disintegrate and no closing choice has been made. Different bidders together with non-public fairness corporations and trade gamers stay within the belongings.

A consultant for Edgepoint declined to remark, whereas representatives for edotco and PLDT did not instantly reply to requests for remark.

PLDT has been working with an adviser to discover a purchaser for its telephone towers within the Philippines, Bloomberg Information reported final 12 months. A transaction would contain PLDT promoting the towers after which leasing them again, sources mentioned on the time.

PLDT, which has a market worth of about 392 billion pesos (US$7.6bil or RM32bil), counts Japan’s Nippon Telegraph & Phone Corp and Hong Kong-based funding agency First Pacific Co amongst its main shareholders, in line with knowledge compiled by Bloomberg. — Bloomberg


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