Chelsea Logistics sells DITO Telecommunity stake to DITO Holdings

4 Nov 2020

Chelsea Logistics and Infrastructure Holdings has reportedly sold a 25% stake in new third telco DITO Telecommunity to DITO Holdings, a privately owned company. In a stock market filing Chelsea Logistics confirmed its board of directors had approved the sale of its 40.833 million common shares and 22.917 million preferred shares of DITO Holdings. The statement said: ‘The transfer of the shares is only for the purpose of restructuring Chelsea Logistics and Infrastructure Holdings Corp.’s shareholdings in DITO Telecommunity, and to streamline the shareholdings of the Corporation and of Udenna Corp in DITO Telecommunity through a holding company, DITO Holdings Corp.’

Philippines, DITO Telecommunity Corp (formerly Mislatel)