Top Philippine Telco Seeks $1 Billion Valuation for Data Centers
- PLDT eyeing either stake sale or REIT listing, CEO says
- Company targets to improve its debt profile by next year
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PLDT Inc., the Philippines’ biggest telecom company, is seeking “north of $1 billion” valuation for its data center business as it weighs either a partial sale or a real estate investment trust listing for the assets.
PLDT is in talks with multiple parties, including its own shareholder Japan’s NTT, to sell a stake in the data centers, executives said in a briefing on Thursday after the company reported its first-quarter net income grew 9% from a year ago to 9.82 billion pesos ($171 million).