{"id":77708,"date":"2024-03-12T19:43:26","date_gmt":"2024-03-13T00:43:26","guid":{"rendered":"https:\/\/equitynewsreport.com\/kkr-to-invest-400-million-in-philippine-telecoms-tower-business\/"},"modified":"2024-03-12T19:43:26","modified_gmt":"2024-03-13T00:43:26","slug":"kkr-to-invest-400-million-in-philippine-telecoms-tower-business","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/kkr-to-invest-400-million-in-philippine-telecoms-tower-business\/","title":{"rendered":"KKR to invest $400 million in Philippine telecoms tower business"},"content":{"rendered":"<div readability=\"71\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"KKR to invest $400 million in Philippine telecoms tower business\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/trkd-images\/LYNXNPEK2C00H_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. Trading information for KKR &#038; Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS\/Brendan McDermid\/ File Photo<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>MANILA (Reuters) &#8211; Private equity firm KKR &#038; Co (NYSE:) will invest $400 million in telecoms tower operations and expansion in the Philippines, the U.S. Department of Commerce said on Wednesday, among a slew of deals in a $1 billion investment announced in a landmark trade mission.<\/p>\n<p>KKR will develop and acquire roughly 2,000 telecoms towers to support digital connectivity across the Philippines, the department said in a statement following a two-day trade and investment mission led by U.S. Commerce Secretary Gina Raimondo.<\/p>\n<p>In 2022, a unit of KKR acquired 3,529 telecoms towers for 45 billion pesos ($814.73 million) in a sale and leaseback deal with Philippines&#8217; Globe Telecom (OTC:) Inc. The KKR unit bought another 1,012 towers for over 12.1 billion pesos from PLDT (NYSE:) Inc.<\/p>\n<p>The U.S. Commerce Department announced American investments of more than $1 billion in the Philippines during the trade mission that included executives from 22 companies including United Airlines, Alphabet (NASDAQ:)&#8217;s Google, Visa (NYSE:), and Microsoft (NASDAQ:).<\/p>\n<p>Ally Power, a Maryland startup, announced a more than $400 million agreement with a unit of power distributor Manila Electric Co to build a hydrogen and electric refueling station.<\/p>\n<p>Microsoft is working with the Philippine central bank and the ministries of budget and trade to identify how its AI products can boost the agencies&#8217; productivity, the commerce department said.<\/p>\n<p>The United States seeks to deepen defence and economic ties with the Philippines, on the backdrop of a more aggressive China in the South China Sea. <\/p>\n<p>($1 = 55.2330 Philippine pesos) <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Trading information for KKR &#038; Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS\/Brendan McDermid\/ File Photo MANILA (Reuters) &#8211; Private equity firm KKR &#038; Co (NYSE:) will invest $400 million in telecoms tower operations and expansion in the Philippines, the U.S. Department of Commerce said on Wednesday, among a slew of deals in a $1 billion investment announced in a landmark trade mission. KKR will develop and acquire roughly 2,000 telecoms towers to support digital connectivity across the Philippines, the department said [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,50,48,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77708"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77708"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77709"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}