CP mulls sale of data centre business

CP mulls sale of data centre business

True IDC could fetch around $200 million, sources say

The Charoen Pokphand Group is exploring the potential sale of its data centre unit that could fetch around US$200 million, according to people with knowledge of the matter.

 True Internet Data Center Co denied the reports on Saturday. General manager Theerapun Charoensak said the company intended to expand at home and in the region to tap the fast-growing demand for data centres. 

The Thai agribusiness-to-telecoms conglomerate is interviewing advisers to help with the potential disposal of True Internet Data Center, said the people, who asked not to be named as the process is private. 

Deliberations are continuing and the company may decide not to sell the business, they said. A representative for CP Group could not immediately respond to requests for comment.

True IDC is a carrier-neutral data centre and cloud service provider, and is part of the CP Group digital unit Ascend Corp. The unit operates four data centres in Thailand and one in Myanmar, according to the True IDC website.

A surge in online activity amid the coronavirus pandemic has made digital infrastructure such as cellular towers and data centres more attractive to potential investors.

CP would join regional peers considering selling data centres including the Philippines’ PLDT Inc and Globe Telecom Inc, as well as PT Indosat, the Indonesian wireless carrier unit of Qatar-based Ooredoo QPSC, Bloomberg News has reported.

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