Benpres reduces equity holding in Digitel Telecommunications

7 Nov 2006

Philippines conglomerate Benpres Holdings Corp announced yesterday it had sold off 55.75 million shares in domestic fixed line and mobile telephony operator Digital Telecommunications Philippines, equivalent to 0.88% of its interest in the company, on the Philippine Stock Exchange for a total of PHP78.5 million (USD1.58 million). Benpres said the proceeds would be used ‘for working capital requirements of Benpres’.

Philippines, Sun Cellular (Philippines)