PLDT Reportedly Working With JPMorgan On Potential Sale Of Data Centers

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PLDT was reportedly working with JPMorgan on the potential sale of its data centers.

Philippines’ telco giant PLDT was reportedly working with JPMorgan Chase & Co. on the potential sale of its data centers.

PLDT
Photo source: CNN Philippines

Citing people with knowledge of the matter, Bloomberg reported that PLDT Inc. was working with JPMorgan Chase & Co. on the potential sale of its data centers.

Based on the report, the people, asking not to be identified because the information was private, said that a deal for the assets could be worth as much as USD 500 million, adding that deliberations were “still ongoing”.

Representatives for PLDT Inc. didn’t immediately reply to an email and text messages seeking comment on the matter, while a spokesperson for JPMorgan declined to comment.

PLDT’s data centers were held by unit ePLDT Inc. and the group owned a network of 10 globally-certified data facilities located across the country, with a total capacity of 72MW and more than 9,000 racks, according to a press release last June.

READ ALSO: DITO Telecommunity May Lose Subscribers Amidst Slower Mobile Data Speed vs Rivals — Opensignal

Separately, Bloomberg News reported last July that PLDT was also weighing disposing of its towers in an USD 800-million sale and leaseback arrangement.

A successful sale of the data centers would see the Southeast Asian entity headed by tycoon Manuel Pangilinan followed in the footsteps of Hong Kong’s PCCW Ltd., which sold its own facilities last July.

While the pandemic had also caused a surge in online activity, demand for digital infrastructure had globally increased as companies stepped up their technology investments.

According to data compiled by Bloomberg, PLDT was backed by Hong Kong-based investment firm First Pacific Co. and Japan’s Nippon Telegraph and Telephone Corp.

Bloomberg also reported that PLDT’s latest presentation showed that its total mobile subscribers stood at about 78 million by the end of June, while it had about 3.5 million users for its broadband services.

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