Government’s sale of PLDT stock put back to 8 Dec

29 Nov 2006

The Department of Finance in the Philippines said yesterday that the sale of the government’s shares in an investment holding company that holds a 13.85% interest in national PTO Philippine Long Distance Telephone (PLDT) will now take place on 8 December, not 4 December as originally planned. No explanation for the move was given. Five unnamed companies attended a pre-bidding conference held on 20 November to discuss the government’s planned sale of its 46% holding in Philippine Telecommunications Investment Corp.