PLDT to acquire 51% of Digitel for P74.1 billion
Philippine Long Distance Telephone Company (PLDT), the Philippines’ biggest telecommunications company, just announced its plans to acquire 51% ofDigitelfromJG Summit Holdingsfor P74.1 billion ($1.7 billion). The respective Boards of Directors of the two telcos approved the acquisition by PLDT of 51.55% equity stake or 3.277 billion common shares of Digitel from JG Summit and other parties. The transaction has an equity value of 74.1 billion pesos ($1.7 billion), PLDT said....