PLDT (PHI) has released an update.
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PLDT Inc. is in the process of negotiating the sale of a 49 percent share of its data center business to a foreign company, aiming to raise over $1 billion and maintain majority ownership. The proceeds from the sale are intended to pay off the company’s debts, as PLDT seeks to strengthen its financial position. The company has confirmed it is exploring various options, including bringing in a strategic partner, but no final decision has been made yet.
For further insights into PHI stock, check out TipRanks’ Stock Analysis page.