Philippines’ Globe Telecom Mulling $200 Million Data-Center Sale
(Bloomberg) -- Globe Telecom Inc., the Philippines’ biggest telecommunications provider by market value, is considering selling its data centers in a deal that could be worth about $200 million, according to people with knowledge of the matter.
The company, which counts Singapore Telecommunications Ltd. and Filipino conglomerate Ayala Corp. among its largest shareholders, is working with an adviser on the potential divestment, the people said, asking not to be named as the process is private.
Deliberations are ongoing and there is no certainty there will be a deal, they said. A representative for Globe Telecom declined to comment.
Globe Telecom is joining its rival PLDT Inc. in considering shedding its data centers, as demand for the digital infrastructure gains momentum amid the coronavirus pandemic. PT Indosat, the Indonesian wireless carrier unit of Qatar’s Ooredoo QPSC, is also weighing selling its data centers business, Bloomberg News reported Tuesday.
The company, which has a market value of 373 billion pesos ($7.4 billion), has 81 million mobile subscribers and 4.2 million broadband users as of end of June, according to its latest financial statement. Globe Telecom offers data center solutions including co-location and work-ready seats to its enterprise customers, according to its website. It has facilities in locations including Makati, Cavite and Cebu, the website shows.
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