Shareholders of US$1bil PhilTower exploring sale

While a sale process could start as soon as this month, discussions are ongoing and there’s no guarantee of a transaction at this stage. — Bloomberg

MANILA: Shareholders of PhilTower are considering selling the company, one of the biggest telecommunications tower firms in the Philippines, and seeking a valuation of at least US$1bil, according to sources. 

Macquarie Capital, Manila Electric Co or Meralco, and Stonepeak Partners are working with financial advisers and have reached out to potential buyers including other funds and industry players to gauge interest, the sources said.