Saga continues as PLDT extends Digitel deadline for second time

1 Aug 2011

Philippine Long Distance Telephone Company (PLDT) has extended for the second time, the deadline date for its proposed acquisition of a majority stake in Digital Telecommunications Philippines (Digitel), which owns the Sun Cellular mobile brand. With regulators committing to undertake an extensive review of the deal amid antimonopoly complaints from rival telcos and lawmakers, PLDT and Digitel’s existing majority owner JG Summit Holdings have now set a 26 August target date for the planned PHP74.1 billion (USD1.763 billion) deal.