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Philippines' PLDT in talks to sell up to 49% stake in data center business to Japan's NTT, chairman says

Neil Jerome Morales and Yantoultra Ngui
·1-min read

By Neil Jerome Morales and Yantoultra Ngui

MANILA/SINGAPORE, May 7 (Reuters) - Philippines' largest telecommunications group PLDT is in talks to sell a minority stake of up to 49% in its data center business to Japan's Nippon Telegraph and Telephone Corp (NTT), PLDT Chairman Manuel Pangilinan told Reuters on Tuesday.

The deal, if finalised, could value PLDT's data center business at $750 million, according to two sources with direct knowledge of the matter.

PLDT said it had no comment to make at this stage. NTT was not immediately available for comment. (Reporting by Neil Jerome Morales in Manila and Yantoultra Ngui in Singapore Editing by Shri Navaratnam)