Globe Telecom launches independent tower business

Globe Telecom launches independent tower business

The Globe Telecom board of directors has approved a plan to create a new independent company for its tower assets.

Ernest Cu, Globe Telecom

The operator disclosed the news yesterday to the Philippine Stock Exchange (PSE), adding that it had begun the process of incorporating a separate tower holding company. Once it receives SEC approval, it will operationalise the divestment of all or part of its tower assets through a separate company.

“As a major industry player we understand what this country needs to improve the internet experience of our customers,” said Ernest Cu, president and CEO of Globe Telecom, who stressed that the company remains open to collaborate with new and existing players in the interest of national development.

“Putting up more towers based on global standards within strategic areas will make spectrum use more efficient. We should work together and find all means to supplement the build for towers – either through telcos or tower companies. This in turn will bring us closer to first world internet connectivity.”

Cu said the initiative will help accelerate the deployment of more cellular towers in the Philippines and foster competition in the country which is continuously trying to improve its internet connectivity.

The news comes after Philippines operator PLDT turned down a proposal from rival Globe Telecom to share existing towers in May.