, Philippines

European fund targets Philippines' SPi Global

European private-equity firm CVC Capital Partners signified interest in buying SPi Global Holdings.

The largest Filipino-owned business process outsourcing firm, SPi Global Holdings Inc. is being acquired from the Philippine Long Distance Telephone Co. for about$320 million.

However, PLDT chose to keep mum about the negotiations for the moment.

“Negotiations are still ongoing and as we continue to be bound by a confidentiality agreement, we are not in a position to make any comments at this time,” said PLDT Corporate Secretary Ma. Lourdes C. Rausa-Chan

The till, the BPO operations never had any significant impact on the PLDT Group’s total bottom line or share price.

The prospective buyer, CVC has around US$46 billion for management buyouts and has already bought a 15% stake in Rizal Commercial Banking Corporation

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