Shareholders of $1 Billion PhilTower Are Said to Explore Sale

Shareholders of PhilTower, a major telecommunications tower company in the Philippines, are reportedly exploring a potential sale of the business. The company is seeking a valuation of at least $1 billion, according to people familiar with the matter. PhilTower is one of the largest tower firms in the Philippines, a market that has seen significant growth in recent years due to the increasing demand for mobile and internet services. The potential sale comes as the industry continues to evolve, with telecom operators increasingly focusing on their core businesses and outsourcing tower infrastructure to specialized providers. The sources, who requested anonymity as the discussions are private, did not provide additional details on the sale process or potential buyers. However, the move to explore a sale suggests that the shareholders believe the company has significant value and may be able to attract interest from both domestic and international investors.