Commission Decision No. 01-M-002/2023:
Proposed Acquisition by Phil-Tower Consortium Inc. of Assets of Globe Telecom, Inc.

Abstract:

The proposed transaction concerns the proposed acquisition by Phil-Tower Consortium Inc. (“PTCI”) of approximately 1,350 tower assets of Globe Telecom, Inc. (“Globe”) pursuant to an Asset Sale and Purchase Agreement executed on 23 September 2022.

PTCI is a corporation incorporated in the Philippines in 2019 and is engaged in the business of, among others, the leasing of telecommunications towers in certain areas in the Philippines.

Globe is an entity incorporated in the Philippines and is a publicly traded company (listed on the Philippine Stock Exchange). Globe is a telecommunications company that provides digital wireless communication services nationwide under the “Globe Postpaid”, “Globe Prepaid”, and “TM” brands using a fully digital network. Globe also offers domestic and international long distance communication services or carrier services. Globe currently has 86.8 million mobile subscribers (including fully mobile broadband), 3.7 million Home Broadband customers, and 1.3 million landline subscribers.

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Link: https://www.phcc.gov.ph/cdn01m002-2023-philtower-globe/