In an announcement today, ABS-CBN released a statement that its Sky Cable sale to PLDT will “no longer push through”. This surprising turn of events happened after all regulatory requirements were approved and Sky Cable ceased operations.
In March 2023, the Pangilinan-led company unveiled its intention to acquire the broadband business for ₱6.75 billion, involving the purchase of approximately 1.37 billion shares at ₱4.9043 each.
Sky Cable also ended its cable broadcast 43 last February 26, 2024.
Sky Cable has now reversed its announcement to subscribers that their cable TV service will continue to operate. No explanation was given as to why this almost-completed deal was canceled, but both parties stated that this was a mutually agreed.
That’s good news. I hate PLDT. PLDT has the worst CS. Im still working with NTC with my complaint vs PLDT.
BTW, all news outlet says both PLDT and ABSCBN expressed the want to cancel, not just ABSCBN. His article seems biased.