Local telco PLDT is reportedly thinking of selling its data centers and get as much as $500 million.

According to a Bloomberg report, PLDT is working with American investment bank JPMorgan Chase & Co. in looking for a buyer to offload its data centers. The Philippines’ largest telecom company currently has 10 of these data centers across the country, with a combined capacity of 72 MW and over 9000 racks.

The report also claims that PLDT may also be looking to sell its cell towers and get as much as $800 million under a sale-leaseback agreement.

The Philippines in recent weeks has been hailed as a potential hub in the Asia Pacific region for hyperscalers, or companies such as Google and Amazon that provide cloud and internet services.

In a press release, PLDT itself is priming the country to become a regional data hub by investing in a robust submarine cable system and increasing the company’s domestic backbone capacity.

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