Linklaters and Latham & Watkins Advised on Major Philippines Telecom Tower Merger

Linklaters and Latham & Watkins Advised on Major Philippines Telecom Tower Merger

Linklaters and Latham & Watkins have advised on a major transaction that will combine Phil-Tower Consortium and Miescor Infrastructure Development Corporation, forming one of the largest independent telecommunications tower companies in the Philippines.

Chrysilla Carissa Bautista, M&A and TMT Partner at ACCRALAW, noted the potential economic impact: “Additional tower infrastructure could attract more foreign direct investments for data centres and BPO companies, both of which rely heavily on robust internet connectivity. This will foster increased competition among telcos, ISPs, and real estate developers.”

Linklaters and Latham & Watkins Advise on Philippines Telecom Tower Merger

Divina Pastora Ilas-Panganiban, TMT Co-head at Quisumbing Torres, highlighted emerging legal trends across Southeast Asia’s telecoms sector, including enhanced regulatory frameworks, competition and data privacy concerns, the rise of AI, and growing investments in cybersecurity. “The key to advancing our digital infrastructure is to build a digitally confident population by providing the best digital facilities,” she said.

Linklaters advised Macquarie Capital, represented by Corporate Partner Niranjan Arasaratnam and TMT Head Adrian Fisher. Latham & Watkins, led by Corporate Partner James Clayton-Payne and Hong Kong Counsel Edward Tang, represented Global Network, another key investor in the transaction.

The merger creates a major player in the Philippines’ tower market, with over 3,300 operational towers. The new entity will bolster 4G and 5G infrastructure, benefiting clients like Globe, Smart, and Dito, and is expected to accelerate the country’s digital transformation.

Investors in the consortium also included Stonepeak and Manila Electric Company (Meralco). The deal has received regulatory approvals from both the Philippine Securities and Exchange Commission and the Philippine Competition Commission.