PLDT in Talks to Sell Stake in Data Centre Business to NTT of Japan

Manuel Pangilinan, Chairman of PLDT, the Philippines’ leading telecommunications group, said that the company is engaged in negotiations to sell up to 49 percent of its data centre business to Japan’s Nippon Telegraph and Telephone (NTT).
NTT DATA Berlin investmentThe potential deal, if materialized, could value the data centre business at $750 million. Neither PLDT nor NTT commented on the proposed valuation, Reuters news report said.

NTT, Japan’s largest phone company, boasts a market value of $99.9 billion as of Tuesday, according to data from the London Stock Exchange Group (LSEG). As of Tuesday, PLDT’s share price has surged by 5.6 percent year-to-date, reflecting a market value of $5.09 billion.

PLDT aims to utilize the proceeds from the sale to reduce debt and finance both ongoing and future data centre projects. A deal could be finalized in the second half of this year.

Headquartered in Makati City, the company oversees 11 data centres through its subsidiary, ePLDT.

This follows a notable investment in September, where global investment firm KKR & Co acquired a 20 percent stake in Singapore Telecommunications’ regional data centre business for S$1.1 billion ($813.49 million).

Related News

Latest News

Latest News