Tuesday, March 29, 2011

PLDT to buy 52% ownership in SunCellular

Damn! Is this means that I am in the brink of being unemployed? God, please no.. Not now!

According to gmanews.tv, PLDT confirmed the buzz among market and industry players that it is buying a majority stake in the Gokongwei-owned competition, Digitel Telecommunications Philippines Inc.(DTPI) — the operator of Sun Cellular.

The telecommunications giant will buy 51.5 percent ownership in Digitel Telecommunications for P69.2 billion, the payment of which will be done under a mandatory shares offering of PLDT shares at P2,500 a piece under the name of DTPI parent JG Summit Holdings Inc.

Following the acquisition, a representative of JG Summit Holdings will occupy a board seat in PLDT.

The telco giant and it lesser competition intend to complete the transaction by the second quarter the year.

PLDT said it intends to keep Digitel's mobile operations — Sun Cellular — separate and intact, giving the country's oldest and largest telecommunications company total of three mobile telephone services under its belt aside from Smart and Red Mobile.

Continue read here...

Hopefully this will not lead to monopoly cause it's not good with the consumers. And the most critical issues here is what will happen to me and to other employee of Sun Cellular. this is not good.


f e R r y j H o i said...

Nabalitaan ko nga Jhakie ^_^
Pero don't worry, am sure A good employee will always remain sa mga ganitong pag kakataon!!!

~_^ keep your faith on you

khantotantra said...

sun cell employee ka pla?

inaayos yung sun cell shop sa galleria a.