PLDT is reportedly considering offloading its data centre business to Japan-based NTT Group for an estimated $750 million, as the Philippines operator looks to raise funds to pay down debt and boost capex.

Chair Manuel Pangilinan told Reuters PLDT is holding discussions with NTT, with another source suggesting a deal could close in the second half of 2024. 

Subsidiary ePLDT, through its data centre unit Vitro, is building an 11th data centre in the country and has plans for three additional facilities.

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

Following a massive capex overrun run December 2022, the operator reduced capex in the first six months of 2023, cutting the number of 5G base stations by more than a third, as part of efforts to reduce network spending and achieve positive free cash flow.