by PLDT Media Services | Jun 30, 2011

Philippine Long Distance Telephone Company (PLDT) and JG Summit Holdings, Inc. agreed to extend the closing date of the transaction under the Sale and Purchase Agreement dated March 29, 2011 from June 30, 2011 to July 30, 2011.

PLDT’s Chairman, Manuel V. Pangilinan, said: “The parties remain committed to this deal since it stands to bring substantial benefits not only to the shareholders but also to the consumers and the general public who will all benefit from the combined resources and expertise of the PLDT Group and Digitel. In the end, this means higher quality services being made available to a wider market at affordable prices.”

JG Summit’s Chairman, Mr. James L. Go, on the other hand, also expressed optimism: “We are confident that soon, the consumers of Sun will reap the benefits of a stronger and more robust telecommunications company resulting from the PLDT-Digitel deal.”