The SEC will investigate PLDT for its alleged underpriced offer for the remaining Digital stocks held by minority shareholders. Ma. Elmira A. Alconaba, assistant director, SEC inspection and surveillance division: “(Our) department will be conducting an investigation to determine if there were any irregularities in the tender offer of PLDT… (We) are requesting the corporate [...]
According to the Philippine Institute for Development Studies (PIDS), the PLDT-Digitel merger should not have been approved. Dr. Rafaelita Aldaba, PIDS Senior Research Fellow: She’s a Fellow! How Quant! :-) “Prior to the approved deal, PLDT was already enjoying a significant market share. Then all the more now that it has bought into Digitel. I [...]
The price of selling out: a seat at the most coveted board of the country. PLDT formally elected James L. Go, chairman and chief executive of JG Summit Holding Inc. (JGSHI), to its board of directors as part of the share swap agreement between the telecom firms PLDT and Digitel. Under the dastardly deal, JGSHI [...]
PLDT intends to delist Digital upon completion of the tender offer exercise. Manuel V. Pangilinan, PLDT Chairman: “It’s likely we would move toward delisting of Digitel. It is better that the main listed company would be PLDT.” Anabelle Chua, PLDT Treasurer: “It will be sometime this November. We are still working through the preparation of [...]
Connectivity Unlimited Resource Enterprises Inc. (CURE) is being reportedly sold by PLDT for the affordable price of 900M! This was the initial valuation by PLDT on the company that it bought from the Ongpin’s last 2008. CURE’s sacrifice is in line with the NTC condition on the PLDT-Digitel merger. The regulator requires PLDT to divest [...]
Bayan Muna Rep. Teddy Casiño is royally irked. And he has thought of three reasons why! 1. The share and swap deal between PLDT and Digitel, creates (or tends to create), a monopoly and is therefore unconstitutional. Section 19, Art. XII of the 1987 Constitution states: “The State shall regulate or prohibit monopolies when the [...]
According to QC Rep. Winston Castelo, PLDT’s and Digitel’s government awarded franchises require them to report to Congress any change in ownership so that the House and the Senate could give clearance. Winston added that PLDT and Digitel cannot use the legislative privileges given to them and that they would need to get a new [...]
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