Two independent tower companies – Phil-Tower Consortium Inc. and Miescor Infrastructure Development Corp. (MIDC) – are set to form a joint venture company (JVCo) for 4G and 5G mobile network infrastructure in the country.
According to Pangilinan-led Manila Electric Co. (Meralco), this joint venture will provide improved coverage for its mobile network operator clients and continue to drive investment in digital infrastructure in the Philippines.
“The JVCo will have Philippine-wide coverage and is well placed to support the growing connectivity needs of the country,” the disclosure stated.
The announcement follows “a year of significant growth in the Philippine information and communications technology sector” with investment approvals exceeding $1.7 billion or P96.16 billion.
The partnership is subject to regulatory review by the Securities and Exchange Commission (PSEC) and the Philippine Competition Commission (PCC).
As of this writing, PhilTower operates around 1,250 towers across the Philippines while MIDC operated over 1,250 towers in Luzon.
MIDC is an independent tower company under the Department of Information and Communications Technology (DICT).
MIDC is a joint venture between Meralco Industrial Engineering Services Corp. (Miescor), a subsidiary of Meralco and Stonepeak, an investment firm focused on infrastructure and real assets.
Source: https://www.philstar.com/business/2024/02/09/2331943/tower-companies-pool-4g-5g-infrastructure