Miescor Infrastructure Development (MIDC), a joint venture of Stonepeak and Meralco Industrial Engineering Services (MIESCOR), has completed its combination with PhilTower Consortium, creating one of the largest independent telecommunications towers companies in the Philippines.
The combined company (JVCo) will continue to be backed by a consortium of MIDC and PhilTower’s existing investors, including Stonepeak, MIESCOR, Macquarie Capital and Global Network.
MIDC and PhilTower are well positioned to address the region’s growing demand for 4G and 5G mobile network connectivity. With a portfolio of more than 3,300 operational towers and continued investment in the Philippines’ digital infrastructure, JVCo will provide improved coverage for its mobile network operator clients, which include Globe Telecom, Smart Communications and DITO Telecommunity.
“This combination unites two successful telecoms companies in a transaction that will bring both enhanced, qu