PLDT revives 2-track approach for VITRO data center business

Telecommunications firm PLDT Inc. is considering listing a real estate investment trust (REIT) for its data center business, alongside the potential sale of a minority stake, as it seeks to raise fresh capital and reduce its substantial debt load.

- By DEXTER BARRO II

PLDT Chairman and Chief Executive Officer Manuel V. Pangilinan said these two options are the only ones the company is currently exploring for the data center unit, which he valued at over $1 billion.

“Either look for a significant minority who could help the business bring in the hyperscaler locators into the Philippines,” Pangilinan told reporters last week. “And number two, is to REIT all of the data centers under one bundle.”