Globe Telecom has started the process of incorporating a separate tower holding company, according to a statement issued to Philippine Stock Exchange (PSE).
Early this year, Globe announced that it has initiated talks with independent third parties for its tower assets. The Operator has been pushing for the establishment of tower companies similar to those found in other developed countries.
With the proposed tower holding company, any player can do outright lease of the towers using standard, non-discriminatory commercial terms, says Globe Telecom. The lack of cellular towers has long been identified as the greatest barrier to seamless mobile internet connectivity with no viable short term solution due to permitting issues.
According to Globe Telecom, the Philippines has one of the lowest tower densities in the world with under 20,000 towers serving 100 million people. Approximately 50,000 more towers should be built in order to serve current voice and data traffic that continuously grows exponentially every year.