No decision to sell SPi yet, says PLDT

MANILA, Philippines – Philippine Long Distance Telephone Co (PLDT) is open to selling its business process outsourcing (BPO) unit SPi Global Holdings, but said no decision has been made on this yet.

In a statement on Tuesday, September 4, PLDT said it regularly evaluates the possible sale of several subsidiaries, not only SPi.
 
“As part of its continual strategic review of its portfolio, PLDT regularly evaluates and explores potential options with regard to acquisitions and divestitures of specific subsidiaries and business units including SPi,” said the phone giant, following media reports it was looking for a buyer of the BPO unit.
 
“However at this time, no decision has been made with regard to any sale or other disposition of SPi,” PLDT added.
 
PLDT said they remain focused on growing SPi, which is expected to deliver sustained revenue growth given continued investments in the BPO industry. “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.”
 
SPi reported service revenues of P2.4 billion in the first quarter of 2012, up 20% from the same period last year. These accounted for 5% of the total revenues of the PLDT group.

SPi recently signed up new clients involved in Customer Relationship Management and Knowledge Processing Solutions. It also expanded existing contracts. – Rappler.com