PLDT to divest 80% stake in SPI Global by next month, Pangilinan says 

PLDT chairman Manuel V. Pangilinan said Tuesday the dominant local telecom firm will keep a 20 percent stake in SPI Global while 80 percent will be divested by January next year.

 

“We have decided on the preferred buyer. We are in the final stages of the purchase and we hope to finish by January,” Pangilinan said in an interview with reporters.

 

SPI Global is a full-service business process outsourcing (BPO) firm with 30 facilities worlwide.

 

SPI Global president and chief executive officer Maulik Parekh said the company he leads will remain engaged in providing global content solutions.

 

“In strengthening SPi Global’s content business, a strong foundation is essential for sustainable growth. We can now focus on further building our digital service lines with the addition of a top-rate content development house,” Parekh said.

 

Pangilinan said PLDT will retain the 20 percent because the incoming buyer has committed to expand its presence in the Philippines.

 

He added that PLDT is divesting because the SPI Global unit in the country has minimal input to the the telecom leader's finances and operations. — ELR, GMA News