PLDT buying Sky Cable’s broadband business for P6.75B
PLDT Inc. is set to buy Sky Cable’s broadband business and other related assets for P6.75 billion, a move seen to bode well for the customers of both companies.
In a statement on Thursday, PLDT Inc. announced its proposed acquisition of the Sky Cable’s shares as the telco giant gears up to expand its network as connectivity needs rise due to digitalization.
The deal is seen to upgrade the “overall customer experience through the combined expertise, resources and capabilities of PLDT and Sky.”
The transaction, which involves the sale of all Sky Cable’s 1.38 billion common shares, is still subject to regulatory clearances. Each share is priced at P4.9043, which is based on agreed equity valuation of the Lopez company.
For this transaction, Picasso Buyco Tan Fider & Santos and AlphaPrimus Advisors advised PLDT while the law firms of Romulo Mabanta Buenaventura Sayoc & Delos Angeles and Quiason Makalintal advised the Lopez group.
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