PLDT Inc. will soon acquire the broadband company Sky Cable Corporation for PHP 6.75 billion pesos. With this deal, PLDT will also have in possession ABS-CBN Corporation and Lopez, Inc.
According to the disclose sent to The Philippine Stock Exchange Inc., PLDT is set to obtain Sky Vision Corporation, ABS-CBN Corporation and Lopez, Inc. Through this, PLDT will also cover 100% of Sky Cable’s total outstanding and issued capital stock.
Through the combination of resources that both PLDT and Sky Cable have, this acquisition is anticipated to strengthen and expand their services, especially in remote areas. Additionally, PLDT and Sky Cable are planning to upgrade overall customer experience through their combined expertise.
The transaction was approved on March 16, 2023.