US private equity giant KKR & Co. announced a significant investment of $400 million in the Philippines' telecom tower sector. This news follows a two-day trade mission led by the US Department of Commerce, which secured over $1 billion in total commitments from American firms.
KKR plans to utilize these funds to develop and acquire approximately 2,000 telecom towers. This expansion aims to enhance digital connectivity across the Philippines, a nation with over 113 million citizens.
The investment strengthens KKR's existing partnership with Pinnacle Towers, the Philippines' leading independent tower operator. KKR previously acquired a stake in Pinnacle Towers in 2020.
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