Philippines' IPVG to Provide Services to PCCW Unit

IPVG (IP) Corp., a Philippine software and Internet-content producer, will invest as much as $40 million in back-office services for PCCW Teleservices Ltd., a Hong Kong- based unit of PCCW Ltd. (8)

IPVG's wholly owned subsidiary, IP-Contact Center Outsourcing Inc., will provide English-language requirements of PCCW Teleservces' customers in Asia, North America and Europe, Manila-based IPVG said in a statement in Manila today.

IPVG will put up as many as 5,000 call center seats in the next three to four years for the project, Chief Executive Officer Enrique Gonzalez told reporters today in Manila.

The Manila-based company that also provides online gaming services is planning to sell $10 million worth of primary shares in the second half of this year to raise part of the capital, Gonzalez said.

IPVG may also borrow another $10 million for the project with PCCW Teleservices, the chief executive said. PCCW Teleservices runs 11 contact centers in Asia, the statement said.

IPVG shares closed 1.5 percent higher to 6.60 pesos at the midday end of trading in Manila today, reversing earlier losses.

To contact the reporter on this story: Clarissa Batino in Manila at cbatino@bloomberg.net.

To contact the editors responsible for this story: Tony Jordan at tjordan3@bloomberg.net.

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