Trolling PLDT, Globe, Smart and Sun!
When a company gobbles up another company operating in the same industry one thing is sure to happen: redundancy! PLDT has formally announced that in the coming months, it would focus on integrating Digitel/Sun operations to its own which will inevitable cover workforce reduction due to the duplication of roles. To date, about 850 Digitel [...]
The price PLDT had to pay for the annexation of Digitel/Sun: the sacrifice of spectrum and its dead in the water brand, Red Mobile. According to the NTC, no party has appealed their decision to allow the sale of Digitel, thus making the decision final. NTC commissioner Gamaliel Cordoba: “We will start by asking the [...]
PLDT has offered to purchase the balance 48.45% stake of minority shareholders of Digital. The telco juggernaut said that Digitel will need to apply for voluntary delisting with the PSE if, as a consequence of the tender offer for the remaining Digitel shares held by the public, the public ownership of Digitel falls below the [...]
JG Summit raised P14.5B in cash from selling back a small portion of its stock take from the PLDT-Digitel deal. The buyer is a local affiliate of PLDT aligned with the First Pacific group. A total of 5.81 million shares at P2,500.00 per pop were sold back to Metro Pacific Resources Inc. The sold share [...]
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 [...]
The Department of Trade and Industry (DTI) said it’s a fair deal! The trade regulator further stated that PLDT’s gobbling of Digital is also fair to the consumers. Troll: Oh DTI. How do you, under the heavens and on earth, define “fair”? Gregory L. Domingo, Trade and Industry Secretary: “Based on what I’ve read wherein [...]