DigitalBridge Group is in advanced talks to acquire data center assets from PCCW, in a deal that could fetch more than $600 million, a source familiar with the matter told Bloomberg.
PCCW is the Hong Kong telecommunications, media and technology conglomerate controlled by billionaire Richard Li. The company has been exploring the sale of its data center assets. DigitalBridge emerged as the strongest bidder, following an auction and is preparing to finalize details of an agreement poised to expand its $32 billion of assets under management.
Although no final decisions have been made, sources speculate a formal announcement could come as early as this month.