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PLDT Inc. and ABS-CBN Corp. said on Thursday that their multibillion-peso transaction pertaining to the sale of Sky Cable to PLDT will not proceed as planned. Almost a year after it was announced, the two groups said they have “mutually decided not to proceed with the sale of Sky Cable…
The Ecumenical Institute for Labor Education and Research (EILER), a labor nongovernment organization (NGO), voiced concerns over the welfare of the employees affected by the acquisition deal between PLDT Inc. and Sky Cable Corp. EILER Executive Director Rochelle Porras called on the two groups to ensure the rights of the…
The Philippine Competition Commission (PCC) has approved the sale of SkyCable Corp. to PLDT Inc. In separate filings, PLDT Inc. and ABS-CBN Corp., the parent company of Sky, said the antitrust body has “allowed the sale of the broadband business and related assets of SkyCable Corp. to PLDT inc.via the…
PLDT Inc. has acquired the broadband business of Lopez-owned Sky Cable Corp. for almost P7 billion in a deal that cements the market dominance of the telco giant.
After being publicly questioned by lawmakers and the telco regulator, media conglomerates ABS-CBN Corp. and PLDT Inc. have decided to end their investment deals that supposedly amounted to billions of pesos. The deals that have been terminated involve the following: the acquisition by ABS-CBN of 34.99 percent of total voting…