Manny Pangilinan’s PLDT will spend Php2.12 billion to purchase a 34.9% stake in Radius Telecoms Inc., a subsidiary of electric company Meralco.
In a regulatory filing, PLDT said that its board has already green-lit the proposed investment in Radius. The transaction will consist of purchasing 2.49 million common stocks that cost Php849.28 each.
Related
- PLDT no internet? How to contact hotline and customer service
- PLDT Fiber Plans: Prices, Internet Speed, Requirements, FAQs
That amount came from the business valuation of Radius using financial projections and cash flows in the future at 34.9% of its overall issues and outstanding capital stock.
For those who haven’t heard of them, Radius’s specialty is in offering improved telco services to businesses and enterprise users. They also offer broadband services to residential consumers.
Radius is wholly owned by e-Meralco Ventures’ subsidiary Paragon Vertical Corporation, which makes it entirely owned by Meralco.
PLDT’s investment in Radius aims to fortify its market position and widen its market share through harmonious integration of services and coverage.
The telco giant wants to capitalize on Radius’ 100% fiber facilities that consist of 150 enterprise buildings, more than 200 residential multi-dwelling units, and more than 200 villages.