MANILA -- Globe Telecom, the Philippines' mobile leader, said on Friday it will sell 5,709 cellular towers for 71 billion pesos ($1.28 billion), as telecom companies in the country build up their war chests for expansion and competition between them intensifies.
Telecommunication
Philippines' mobile leader Globe to sell 5,709 towers for $1.28bn
Company, rival PLDT building war chests to expand as competition heats up
Globe said the bulk of the proceeds from the tower sale will be used to fund network expansion, while a quarter will be used to service debts. (Source photos by Reuters)
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