Philippines’ biggest telecommunications and digital services provider by market value PLDT is looking to sell its local towers.
According to Bloomberg, PLDT is looking at a deal that would fetch about US$800 million to 1 billion, according to sources in the know as reported by Bloomberg. The transaction would involve PLDT selling the towers and then leasing them back, according to sources.
PLDT is working with an adviser on the planned disposal, said the people, who asked not to be identified as the process is private. In May, the ICT arm of PLDT Enterprise decided to do a strategic transformation initiative for its VITRO Data Center facilities in Philippines.
Read: https://w.media/pldts-ict-arm-undertakes-transformation-of-vitro-data-centres/
Post the pandemic, requirements for data centres have been increasing as technology consumption has surged with remote working and other kinds of restrictions on people movements.
Earlier this week, DigitalBridge Group this week agreed to buy the data centre business of Hong Kong’s PCCW for US$750 million.
Philippines has also eyed several big ticket investments in the data centre segment. The country expects to increase its rack space market to 400,000 sq. ft. by 2024.
In June, Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced its plans to build its first data centre in Manila by the end of this year.
Read: https://w.media/alibaba-cloud-expands-its-asia-footprint-opens-dc-in-philippines/
Mobile and internet speed in the Philippines has improved considerably, according to a latest speed test report by internet metrics site Ookla.
Ookla’s latest Speedtest Global Index Report revealed that mobile speed in the Philippines has moved up seven places to rank 77th globally, whereas fixed broadband speed jumped fifteen places to rank 65th globally.
