{"id":329435,"date":"2024-09-12T00:31:17","date_gmt":"2024-09-11T16:31:17","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329435"},"modified":"2024-09-12T00:31:19","modified_gmt":"2024-09-11T16:31:19","slug":"trade-the-news-globe-aiming-to-finish-p96-billion-tower-sale-this-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-globe-aiming-to-finish-p96-billion-tower-sale-this-year\/","title":{"rendered":"Trade the News: Globe aiming to finish P96-billion tower sale this year"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Globe Telecom<\/td><\/tr>
Stock Code<\/strong><\/td>GLO<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 2,472.13<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Globe Telecom Inc. said it expects to complete the P96-billon tower sale and leaseback deal by the end of the year.<\/p>\n\n\n\n

The telecom arm of the Ayala Group said 88 percent of the towers in its portfolio were transferred to the tower companies, generating P85.2 billion in gross proceeds.<\/p>\n\n\n\n

Globe chief finance officer Rizza Maniego-Eala is optimistic to achieve the completion of the sale.<\/p>\n\n\n\n

\u201cWe are aiming to complete 100 percent of our tower sale by this year. However, even if we only reach about 92 percent by December, we will still be on track, considering that the fourth tranche of our tower sale came six months after the first three transactions,\u201d she said.<\/p>\n\n\n\n

The tower sale, which started in 2022, saw a significant progress throughout 2024. Globe successfully transferred an additional 48 towers to Phil-Tower Consortium, Inc. (PhilTower) on June 21, for about P710 million.<\/p>\n\n\n\n

Globe handed over 140 towers to Miescor Infrastructure Development Corp. (MIDC) on June 28 for P1.68 billion. Simultaneously, 187 towers were transferred to Frontier Towers for about P2.38 billion.<\/p>\n\n\n\n

Globe completed the transfer of the last batch of 1,037 sites to Frontier Towers for P13.17 billion on July 23, marking the full completion of its tower sale and leaseback deal with the company.<\/p>\n\n\n\n

(News Source: Manila Standard<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329435","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329435"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329435\/revisions"}],"predecessor-version":[{"id":329437,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329435\/revisions\/329437"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}