Macquarie Capital is reportedly looking to sell its stake in one of the Philippines' largest independent tower companies.

The entity is made up of the recent merger of PhilTower Consortium and Miescor Infrastructure Development Corporation's tower assets in the country.

Philippines towers
– Getty Images

The tower company, which doesn't appear to have a name as of yet, is owned by investors including Macquarie Capital, Stonepeak, Manila Electric Company (Meralco), and Global Network Inc. Macquarie's stake is worth 45 percent.

However, Bloomberg has reported this week that Australian investment firm Macquarie wants to sell its stake.

The company is reportedly in discussions with a financial adviser over a potential sale. Bloomberg reports that a deal could value the tower entity at between $700 million to $800 million.

The tower company operates a tower portfolio of more than 3,300 operational towers, plus more than 2,100 in committed orders.

According to Macquarie, which has been a shareholder in PhilTower since 2021, the tower portfolio spans across the country.

Macquarie has been operating in the country for more than 20 years and has more than 1,000 employees in the Philippines.

In 2022 PhilTower agreed to acquire 1,350 towers from Globe Telecom in a $340 million deal for the company.

Miescor acquired 2,180 towers from Globe Telecom. The acquisition of the towers was part of an agreement from Globe to sell 5,709 cellular towers, with Frontier scooping up 3,529 towers.