PCC approves PLDT's P6.75B acquisition of Sky Cable assets

Updated Mon, January 22, 2024 at 4:38 PM Published Mon, January 22, 2024 at 10:14 AM

The Philippine Competition Commission (PCC) has approved PLDT Inc.'s acquisition of Sky Cable Corporation's broadband business and related assets for P6.75 billion.

PLDT, owned by tycoon Manny V. Pangilinan, announced that the PCC gave its nod on January 19, Friday.

The transaction involves PLDT acquiring 100% of Sky Cable's issued and outstanding capital stock.

This acquisition is expected to enhance customer experience by combining the expertise and resources of both companies.

However, the deal is still subject to several closing conditions, including the cessation of Sky's pay TV and cable businesses.

Sky Cable's cable TV business will be absorbed by Cignal, a subsidiary of MediaQuest Holdings.

Topics in this story

Explore more stories about these topics.

PLDT Cignal Manuel V. Pangilinan Philippine Competition Commission

🤖

This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.

News Sources

See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.