DoCoMo looking to up PLDT holding to 21%

21 Jun 2007

Japanese mobile operator NTT DoCoMo has said it is interested in increasing its stake in Filipino carrier Philippine Long Distance Telephone (PLDT) from 14.5% to 21% (the maximum allowed under the country’s telecoms law), by purchasing shares on the open market or via other deals. In a statement submitted on DoCoMo’s behalf by PLDT to the Philippine Stock Exchange, the cellco said: ’DoCoMo may increase its ownership of PLDT shares through open market purchases, negotiated purchases, or other transactions, up to the limitation of 21%, if DoCoMo deems market and other conditions as favourable.’