PLDT bought 51.5 percent of Sun Cellular Digitel!
March 30, 2011
Edit
A big news this morning.The Philippine telco giant, PLDT, announced
today that it is acquiring 51.5 percent of shares worth P69.2 billion from
Digitel Telecommunications Philippines Inc., which handles Sun Cellular.
According to the report, the shares will be "paid
through an offering of new shares at P2,500 each to JG Summit Holdings, mother
company of Digitel." The total transaction is set at P74.1 billion,
assuming minority shareholders agree to the buy-in. The acquisition process is
expected to be complete by the second quarter this year, reports GMA News
Online.
According to PLDT, Sun Cellular will remain as a separate
entity from it’s two telco firms Smart and Red Mobile. They
said they will make PLDT's services, particularly offerings on 3G and
broadband, available to Digitel subscribers
Read the complete article here:http://www.gmanews.tv/story/216421/business/pldt-to-buy-52-equity-in-jg-summits-digitel
Read the complete article here:http://www.gmanews.tv/story/216421/business/pldt-to-buy-52-equity-in-jg-summits-digitel
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I don’t know if this is a good news for every body but we
will wait to see the other chapter to find out what will be the pros and cons.