PLDT is reportedly in talks with European private equity company CVC Capital Partners regarding a minority stake in the telco's data center business.

Based in the Philippines, PLDT has been toying with selling a stake in its data center business for years. The company considered selling its data centers for $500 million in 2021, but the deal was put on hold, and revived an adjusted version of the plan in May 2024 to sell a minority stake.

That same month the company was revealed as being in talks with Japan's NTT considering parting with 49 percent of its data center business in a deal which would value it at $1 billion.

The deal, however, fell through due to disagreements about the ownership structure, reports W.Media. NTT allegedly sought a controlling stake, which PLDT was unwilling to comply with.

Details of CVC's offer have yet to be shared, but sources told PhilStar Global that the company had offered a better-priced proposal.

Should CVC's talks also fall through, another company is allegedly waiting in the wings to snap up a share.

PLDT has 10 operational data centers located across metro Manila which are managed by Vitro, a company launched earlier this year.

An eleventh facility is underway - Vitro Sta. Rosa - which will be the largest data center under the PLDT portfolio. Vitro Sta Rosa is expected to add 50MW at full build-out to PLDT's capacity, bringing its total to 100MW. The data center was topped off in July 2024, and has seen $350 million invested in its construction.

Vitro president and CEO Victor Genuino said of talks with CVC: "We feel that a strategic investor is a more appropriate path forward."

CVC Capital Partners is based in Luxembourg and has more than $210bn in assets under its control.