KKR commits $400M to Philippines tower business ...Middle East

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KKR commits $400M to Philippines tower business
KKR set aside $400 million to develop and acquire roughly 2,000 telecoms towers in the Philippines, as part of a number of deals struck by the US Department of Commerce under a bilateral trade pact. In a statement, the US government stated the agreement builds on KKR’s investment in Pinnacle Towers, which it described as the largest independent tower operator in the Philippines. KKR acquired a stake in Pinnacle Towers in 2020 to strengthen its position in the Southeast Asian country, The fresh capital injection is designed to boost digital connectivity across the Philippines, and the government stated “KKR continues to be highly attracted to the dynamic Philippines market and looks to do

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