PLDT Inc. is considering launching a real estate investment trust (REIT) offering, potentially backed by its $1-billion data center business, to raise funds while still exploring plans to sell a stake in its unit, according to Manuel Pangilinan, the company’s president and chair.
The REIT option offers PLDT greater control over its data center operations, with discussions ongoing about a possible stake sale to Japanese telecommunication company Nippon Telegraph and Telephone Corp.
PLDT’s net income grew by 9 percent to P9.82 billion in the first quarter, driven by a 5 percent increase in data and broadband revenues, indicating its strategic focus on expanding data infrastructure amid rising demand for digital services.
PhilNews24 | May 10, 2024
