PLDT aims to conclude SPi sale in 'next few weeks'

Posted at 01/16/13 4:15 PM

MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) hopes to conclude talks with London-based CVC Capital Partners over the sale of SPi Global Holdings, Inc. soon.

PLDT Chairman Manuel V. Pangilinan on Wednesday confirmed the talks with CVC, saying the telco hopes to conclude the negotiations in the next few weeks.

"In the next few weeks, there is no definitive date yes, but hopefully in the next few weeks," Pangilinan told reporters.

In December, Pangilinan has said PLDT is already in the final stages of selling off an 80% stake in its BPO arm, SPi Global, which is being done after the telco giant decided to focus on its core businesses.

SPi Global offers voice and non-voice BPO services and has offices in North America, the Netherlands, Australia, India, Vietnam and in the Philippines.