PLDT's Voyager may welcome new investors this end-September

PLDT's plan to sell its digital unit Voyager Innovations Inc. to foreign investors may be pushed through this September, its top official said. 

Voyager to embrace new investors

PLDT Chair Manuel V. Pangilinan said the move witnessed a development as the group already started to iron out terms of reference for the deal. 

We're in the process of definitive documentation already, he said in a mobile message to BusinessWorld. 

The business tycoon also expressed bullishness with the realization of the transaction. 

It was in January when Pangilinan revealed the plan to ink financial and strategic partnerships in a bid to boost Voyager. 

The PLDT chief was initially eyeing China-based Tencent Holdings, a leader in the gaming and social media space. However, he said talks with the tech giant had no progress. 

In August, Pangilinan said PLDT was able to attract a new group of investors for the said digital subsidiary. 

No official statement yet was released on the identity of the foreign investors. 

Voyager plans to expand its services to the Asian region, starting to venture to two to three countries this 2018, its president Orlando Vea disclosed in December 2017. 

Voyager focuses operations on digital marketing, e-cash payment through its PayMaya unit, and e-commerce.

What do you think, guys?

Source: BusinessWorld, The Manila Times