PLDT - Globe Close Purchase of San Miguel Telecommunications Businesses
Manila, Philippines: May 30, 2016 – Philippine Long Distance Telephone Company ("PLDT") ("NYSE") (PSE: TEL) today announced that further to the disclosure made earlier today on its acquisition of the telecommunications business of San Miguel Corporation (“SMC”) (PSE:SMC), PLDT and Globe Telecoms, Inc (“Globe”) (PSE:GLO) have signed and executed (i) a Sale and Purchase Agreement ("SPA") with SMC to acquire the entire share capital of Vega Telecom Inc. which holds SMC’s telecommunications assets through its subsidiaries, and (ii) separate SPAs with the owners of two (2) other entities, Bow Arken Holdings Company (parent company of New Century Telecoms, Inc) and Brightshare Holdings, Inc (parent company of eTelco, Inc), which separately hold additional spectrum frequencies through their respective subsidiaries.
