PLDT acquires 51.55% equity share of Sun Cellular, Digitel Mobile Communications

There are three dominant telecommunications players in the Philippines - PLDT which owns Smart Communications, Digitel which owns Sun Cellular, and Globe Telecom which owns Globe.

Not anymore.

The Philippine Long Distance Company (PLDT) announced Wednesday that it acquired Digital Mobile Communications from JG Summit for 69.2 billion pesos (US $ 1.6 billion) making it the largest corporate buy-out in the  country's history. PLDT now owns 51.55%  equity stake of Digitel. The remaining investors represent 48.45% equity share in the Digitel.

Smart + Sun Cellular = Excellent mobile service?

Many people are hoping that this would lead to a better mobile service for both the Smart and Sun Cellular subscribers. It seems that PLDT is trying to cripple the dominance of Globe Telecom. Whoaa!

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