PLDT buys stake in Meralco unit, continuing expansion mode

MANILA, Philippines  —After acquiring Sky Cable’s broadband business, PLDT Inc. is making another investment by purchasing a 34.9-percent stake in a Manila Electric Co. (Meralco)-owned telco for P2.12 billion, a move seen to further expand the telecommunication giant’s footprint in the competitive industry. The Pangilinan-led telco, in a disclosure on Wednesday, said its board of
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