PLDT - Globe to Acquire Telecommunications Business of San Miguel
Manila, Philippines: May 30, 2016 - Philippine Long Distance Telephone Company ("PLDT") ("NYSE") (PSE: TEL) today announced that its Board of Directors has approved the acquisition by PLDT of 50% of the equity interest of the telecommunications business of San Miguel Corporation ("SMC") (PSE: SMC), with Globe Telecom Inc. ("Globe") (PSE: GLO) acquiring the remaining 50% interest. The PLDT Board also approved the acquisition by PLDT of 50% equity interest in the telecommunications businesses of New Century Telecoms, Inc ("New Century") and eTelco, Inc ("eTelco").
