The Philippines’ largest telco, PLDT Inc., is no longer pursuing its discussions with Nippon Telegraph and Telephone Corp. for the sale of about 49% of its data center business to the Japanese firm.PLDT chairman and CEO Manuel Pangilinan said that NTT sought to purchase 51% of the telco's data center business. However, PLDT vowed to keep a majority stake.
“It's likely that we're going to sign with the investor within a year or before the end of the process. But this is likely to be subject to one or at least notice to the technical commission,” he added, noting that financial closing would be “probably next year.”The PLDT chairman earlier said the sale of the telco's data center business could generate more than $1 billion for the company, which would be used to cut debt and fund capital requirements.