PLDT to sell 49% stake in data center for over $1b

📆 6/11/2024 1:23 PM
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PLDT Inc. said Tuesday it will sell a 49-percent stake in its data center business to a foreign company for more than $1 billion.

“But hopefully in the next few weeks, we should be able to finalize and convert those discussions. So hopefully by July, we should have a binding term sheet with this particular investor,” he said. He said the data center sale aimed to reduce PLDT’s debt, which amounted to P242.2 billion as of end-March 2024.

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