by PLDT Media Services | Jun 26, 2011

MANILA, Philippines, May 26, 2011 – The Philippine Long Distance Telephone Company (PLDT) voluntarily submitted today the sales and purchase agreement (SPA) dated March 29, 2011 covering its investment in Digitel Telecommunications Philippines Inc. (Digitel) to the National Telecommunications Commission (NTC)

“We are submitting the SPA to the NTC voluntarily to dispel malicious statements made  by some parties that PLDT and Digitel have something to hide,” said Ray C. Espinosa, PLDT director and head for regulatory and policy affairs.

“We have been very transparent about this transaction from the outset and have previously disclosed all material information about the transaction to the NTC, Securities and Exchange Commission and Philippine Stock Exchange in separate filings,” he said.

"The transaction is pro-consumer and will bring about substantial benefits to the general public. With this investment, Digitel customers and the public will be assured that Digitel will have the financial resources need to continue and sustain its popular unlimited services under the Sun Cellular brand. The PLDT Group is committed to support and continue these unlimited services," he added.

"Globe's vigorous opposition to the transaction reveals its dark objective - TO "KILL" SUN CELLULAR. Globe has been the hardest hit by Sun Cellular's popular unlimited services and has lost many subscribers to Sun Cellular. Sun Cellular has also outpaced Globe in terms of postpaid subscribers. Globe knows that with the PLDT investment Digitel will now have the much needed financial resources to sustain and continue the Sun Cellular unlimited services. This is what Globe dreads,” Espinosa clarified.