Phil1-Tower Consortium (PhilTower) and Miescor Infrastructure Development Corporation (MIDC) have announced plans to establish and invest in a Joint Venture company (JVCo). This new entity will fully own both PhilTower and MIDC, aiming to address the increasing need for 4G and 5G mobile network infrastructure throughout the Philippines. The JVCo will provide improved coverage for its mobile network operator clients and continue to drive investment in digital infrastructure in the Philippines.
PhilTower and MIDC are both fast-growing independent tower companies in the Philippines and this combination would enable them to maximise their complementary geographic footprints to provide better connectivity for their customers. Currently, PhilTower operates over 1250 towers located in the 3 main regions of Luzon, Visayas and Mindanao in the Philippines, and MIDC operates over 1250 towers primarily in Luzon.
The JVCo would have Philippine-wide coverage and is placed to support the growing connectivity needs of the country. The announcement follows a year of growth in the Philippine information and communications technology sector, with investment approvals exceeding US$1.7 billion (Php96.16b).
The combination is subject to regulatory review by the Philippines Securities and Exchange Commission and the Philippine Competition Commission.
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