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PLDT buys 38.88% stake in SkyCable

11 Aug 2022

PLDT Inc. is purchasing a 38.88% stake in ABS-CBN subsidiary SkyCable (SKY Fiber) through its Cignal Cable unit for PHP2.8 billion (USD50.4 million). According to local press reports Cignal Cable inked a sale and purchase agreement with Sky Vision, ABS-CBN and Lopez Holdings Corp for the acquisition, alongside which the parties ‘executed a debt instrument agreement where Sky Vision agreed to issue an exchangeable debt instrument to Cignal Cable with a face value of PHP4.38 billion’.

TeleGeography’s GlobalComms Database writes that Sky Cable (SKY Fiber) is the pay-TV and cable broadband arm of ABS-CBN Corp, one of the Philippines’ largest media and entertainment companies. Its fibre broadband service is currently available in Metro Manila, Cavite, Laguna, Bulacan, Cebu, Bacolod, Iloilo, Davao and General Santos.

Philippines, PLDT Inc. (incl. Smart Communications), Sky Cable (SKY Fiber)

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