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Stock impact report

Stonepeak-backed MIDC Completes Combination with PhilTower [Yahoo! Finance]

PLDT Inc. Sponsored ADR (PHI) 
US:NYSE Investor Relations: pldt.com/investor-relations
Company Research Source: Yahoo! Finance
This transaction creates one of the largest independent telecommunications towers companies in the Philippines. Together, MIDC and PhilTower are well positioned to address the region's growing demand for 4G and 5G mobile network connectivity. With a portfolio of over 3,300 operational towers and continued investment in the Philippines' digital infrastructure, JVCo will provide improved coverage for its mobile network operator clients including Globe Telecom, Inc. (PSE: GLO), Smart Communications, Inc., and DITO Telecommunity Corporation. Darren Keogh, Senior Managing Director at Stonepeak, said, "The joining of MIDC and PhilTower will allow for the more effective delivery of critical digital infrastructure through its combined footprint, helping to bridge the digital divide in the Philippines. This is an exciting milestone for both MIDC and PhilTower, especially given the support and demand the Philippines mobile tower industry is realizing. We look forward to working with our part Show less Read more
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