KKR to invest $400 million in Philippine telecoms tower business

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Reuters
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March 13, 2024 - 12:56 PM
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Trading information for KKR & 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 — Private equity firm KKR & Co will invest $400 million in telecoms tower operations in the Philippines, the U.S. Department of Commerce said on Wednesday.

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.

— Reporting by Neil Jerome Morales; Editing by Jacqueline Wong

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