SEC approves incorporation of Globe’s tower company
MANILA, Philippines — Ayala-led Globe Telecom Inc. on Wednesday said the Securities and Exchange Commission greenlighted the incorporation of its tower company.
In a disclosure to the stock exchange, Globe said the establishment of its tower company, GTowers Inc., would “help speed up the building and deployment of cellular towers in the country.”
Globe early this year said it would continue to hold discussions with third parties such as advisers and investment banks to find partners for the creation of a tower company.
To address the country’s lack of cell towers, which is a constraint in providing mobile internet connectivity, the government is looking at the common tower policy as a solution wherein private firms or tower companies would build cell sites to be leased to telcos. — Ian Nicolas Cigaral
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