Image by Freepikfilterwork consortium (filter tower) and Meascoal Infrastructure Development Co., Ltd. (MIDC) announced plans to establish and invest in a joint venture (JVCo). This new entity will fully own both PhilTower and MIDC and aims to address the growing 4G and 5G mobile network infrastructure needs across the Philippines. JVCo will provide improved service coverage to mobile network operator customers and continue to drive investment in the Philippines’ digital infrastructure.
PhilTower and MIDC are both fast-growing independent tower companies in the Philippines, and this combination will allow both companies to maximize their complementary geographic footprint and provide better connectivity to their customers. Currently, PhilTower operates his 1,250+ towers in three major regions of the Philippines: Luzon, Visayas, and Mindanao, and MIDC operates his 1,250+ towers mainly in Luzon.
JVCo will be positioned to cover the entire Philippines and support the country’s growing connectivity needs. The announcement comes as the Philippines’ information and communication technology sector has grown with his investment approval of over US$1.7 billion (P9.616 billion).
The combination is subject to regulatory review by the Philippine Securities and Exchange Commission and the Philippine Competition Commission.
Comment on this article below or via X: @Vanilla Plus
