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Globe, PLDT buy San Miguel telecom assets for PHP 70 billion
2016-05-30 09:16:00| Telecompaper Headlines
(Telecompaper) San Miguel has agreed to sell its telecom assets to Philippines operators Globe Telecom and PLDT. Each company bought half of Vega Telecom (VTI), half of Bow Arken (BAHC) and half of Brightshare (BHC) for a total amount of PHP 26.4 billion (USD 1.5 billion ) in cash. VTI owns a stake in Liberty Telecom as well as stakes in a number of other companies, including Bell Telecommunication Philippines, Eastern Telecom Philippines, Express Telecom, and Tori Spectrum Telecom, among others. The total enterprise valuation of VTI, BAHC and BHC was estimated at PHP 70.0 billion, including total liabilities of PHP 17.2 billion.
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Category:Telecommunications