PLDT in talks to sell part of $1B data center to foreign firm | ABS-CBN
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PLDT in talks to sell part of $1B data center to foreign firm
PLDT in talks to sell part of $1B data center to foreign firm
MANILA — Telco giant PLDT is finalizing a deal with a foreign company to sell a stake in its data center business.
MANILA — Telco giant PLDT is finalizing a deal with a foreign company to sell a stake in its data center business.
At the sidelines of the PLDT Annual Stockholders’ Meeting in Taguig, PLDT Chairman Manny Pangilinan told reporters they are now in discussions with a final bidder and have agreed on the valuation of the data center business at over $1 billion.
At the sidelines of the PLDT Annual Stockholders’ Meeting in Taguig, PLDT Chairman Manny Pangilinan told reporters they are now in discussions with a final bidder and have agreed on the valuation of the data center business at over $1 billion.
“We will keep 51 percent ownership of the data centers, both the hyperscalers and the domestic data centers that we have,” Pangilinan added.
“We will keep 51 percent ownership of the data centers, both the hyperscalers and the domestic data centers that we have,” Pangilinan added.
He didn’t divulge the name of the foreign company, but hinted that the company already has small investments in data centers. Earnings from the sale of the 49 percent stake would go to debt payments, Pangilinan said.
He didn’t divulge the name of the foreign company, but hinted that the company already has small investments in data centers. Earnings from the sale of the 49 percent stake would go to debt payments, Pangilinan said.
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“Hopefully by July, we should have a binding term sheet with this particular investor,” he added.
“Hopefully by July, we should have a binding term sheet with this particular investor,” he added.
Pangilinan also said that it will no longer push through with listing its data center business in the Real Estate Investment Trust (REIT).
Pangilinan also said that it will no longer push through with listing its data center business in the Real Estate Investment Trust (REIT).
“Masyado complicated. It will take probably longer and medyo mas masalimuot 'yun,” he said.
“Masyado complicated. It will take probably longer and medyo mas masalimuot 'yun,” he said.
PLDT data center operations company Vitro Inc. earlier said there is growing demand for data centers and hyperscalers, requiring 50KW by 2027. It has several data centers in operation now in Metro Manila and nearby provinces. It is set to open this year its biggest data center facility in Sta. Rosa, Laguna.
PLDT data center operations company Vitro Inc. earlier said there is growing demand for data centers and hyperscalers, requiring 50KW by 2027. It has several data centers in operation now in Metro Manila and nearby provinces. It is set to open this year its biggest data center facility in Sta. Rosa, Laguna.
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