EasyCall shareholder ups stake to provide cash for broadband venture

14 Dec 2009

EasyCall Communications Philippines Inc, a former paging company turned telco, says one of its shareholders, Global E-Business Solutions Inc, has increased its stake in the firm to provide it with the financial resources needed to enter the wireless broadband market. The Philippine Daily Inquirer says the disclosure was made in a stock market filing last Thursday. EasyCall’s board has apparently approved an increase in its paid-up capital by PHP46.6 million (USD1.03 million) to be fully subscribed to by Global E-Business Solutions. The move will increase the latter’s stake in EasyCall to over 72% from the previous 60% and raise the company’s authorised capital to PHP150 million.