PLDT Inc., which has started talks with Japan’s Nippon Telegraph and Telephone and others on the sale of its data center business, on Tuesday bared close to wrapping up the transaction for good.
According to Manuel V. Pangilinan, PLDT chairman and president, the final bidder has agreed to the selling price of some USD1 and that only a few issues and open points need to be negotiated and sealed.
“Hopefully in the next few weeks we should be able to finalize and convert those discussions. Hopefully by July we should have a binding term sheet with this particular investor,” Pangilinan said of the bid to sell 49 percent of Vitro Inc., the wholly-owned data center business of ePLDT.
Panglinan said the company will retain a controlling 51 percent ownership of Vitro Inc. He did not disclose the identity of the prospective investor but said the sale proceeds will help reduce PLDT’s outstanding obligations amounting to P242.2 billion as at end-March this year.
Vitro Inc. operates 10 data centers with a combined capacity of 50 megawatts and is building its 11th in Sta. Rosa Laguna which will increase capacity to 99.5 MW.
PLDT earlier reported net income of P9.8 billion in the first three months this year, up 9 percent from P9.04 billion in the same period last year.
Core income, excluding the impact of asset sales and Maya Innovations Holdings, reached P9.3 billion, up 8 percent from last year.
PLDT consolidated service revenue grew 3 percent to P48.7 billion in the first quarter this year.
