PhilTower’s $1 Billion Sale Plan Is Said to Stall on Valuation

A sale of PhilTower has stalled because of differences in views between shareholders and potential buyers about the company’s valuation, according to people familiar with the matter.

Macquarie Capital, Manila Electric Co. and Stonepeak Partners have been sounding out funds and telecom firms as they explore a sale of PhilTower at a valuation of at least $1 billion, but the response has been tepid, the people said, asking not to be identified because the information is private.