PLDT issued a statement acknowledging it is looking to offload part of its data centre business to reduce debt, noting a decision on a sale has not been finalised.

The operator issued the statement in response to a query from the Philippine Stock Exchange about a news article suggesting it was looking  to sell 49 per cent of its data centre business to NTT Group.

PLDT stated it is “exploring options to partially monetise” the business, with the proceeds “intended for deleveraging”.

The Philippines-based operator noted one option is to line up a strategic partner.

Japan-based NTT holds about a 22 per cent interest in PLDT.

Local media reported earlier this week PLDT was in an advanced stage of negotiations to sell a minority interest in the data centre unit to an overseas buyer.

PLDT reduced network spending in H1 2023, following a massive capex overrun.