InterAksyon.com means BUSINESS
MANILA - Philippine Long Distance Telephone Co. on Wednesday said it may divest its business process outsourcing unit or take the company public.
"Yeah, I think so. That's a fair description of it," Manuel V. Pangilinan, told reporters when asked if the company is in talks for the sale of SPi Global.
"No decision has been made," he said.
A Bloomberg report said PLDT is looking for a buyer of SPi Global and tapped UBS as adviser.
"I don’t think we have any specific in mind as to where to use the proceeds. We haven’t decided yet what causes this thing will eventually end up," Pangilinan said.
Besides divestment, the PLDT group is looking at other options, such as an initial public offering or strategic partnership to expand SPi's global footprint.
Earlier, PLDT said the company remains focused on continuing the strong performance of SPi and investing to support its ambitious business plan.
"PLDT remains very confident in the long-term prospects of SPi given the strength of the business model and management team and believes it is well positioned to capitalize on significant market opportunities for further growth," the telco said.
In 2011, the PLDT group consolidated its BPO business, consisting of knowledge process solutions and customer relationship management, under SPi.
SPi reported service revenues of P8.4 billion in the first six months of this year, up 17 percent from a year ago.
InterAksyon.com means BUSINESS
BUSINESS NEWS
