PLDT has revealed its interest in acquiring private equity firm KKR’s stake in fintech company Maya Innovations.
PLDT chairman and CEO Manuel Pangilinan said that the company wants to increase its stake in Maya and has engaged Goldman Sachs to explore a potential transaction. Maya competes with Globe Telecom’s financial services platform GCash, which is operated by Mynt.
According to DealStreetAsia, KKR holds around 30% of shares in Maya, but it remains unclear whether the investment firm intends to sell its stake.
“We know they (KKR) are trying to scan the market for the value of Maya. Maya is just starting to turn the corner, so we’d be keen to increase our stake in whatever might be available,” said Pangilinan.
PLDT noted that Maya Innovations turned a profit for the first time in December, driven by strong performance from its digital banking arm.
Founded in 2013, Maya offers mobile money and payments under the PayMaya brand, remittances through Smart Padala, and B2B card payments as PayMaya Business.
