PLDT eyes selling its data centers

Pangilinan-led PLDT is looking to sell its data centers, a deal that could amount to as much as USD 500 million.

PLDT mulls selling network assets

PLDT to sell data centers?

An exclusive report from Bloomberg stated that the telco giant is in talks with JPMorgan Chase & Co. for the possibility of putting its data centers on the market.

Deliberations are still ongoing and the group may still opt to not sell the data centers, Bloomberg sources said.

In August, its chairman Manuel V. Pangilinan also confirmed a Bloomberg report that the group was considering to also sell some of its towers which are "not strategic" to maintain its dominance in the industry.

Pangilinan said if PLDT decides to sell the towers, the move will provide a significant financial gain for the group.

The tycoon admitted that PLDT was hesitant of letting go of any of its network assets given the tougher competition in the market.

So in our discussions with the banks, I think they managed to persuade us that if we were to let go of certain number of our towers that are not strategic to maintaining our position as a dominant network in this country, then I think that has led us to think that maybe we should be open to it. And for so long as the financial case is compelling to PLDT, Pangilinan earlier said.

Sources: Bloomberg, Philippine Star