MVP Group’s PLDT said it is “evaluating options” in its rumored bid for Lopez-owned Sky Cable Corporation.

In a disclosure to the Philippine Stock Exchange on Monday, September 14, PLDT said there is “nothing definite” at the moment.

“PLDT regularly explores opportunities available to the group that may complement our overall business strategy,” said the telco giant.

“As such, PLDT is evaluating options with respect to Sky Cable for possible opportunities. However, there is nothing definite nor disclosable at this time.”

Citing sources, the Philippine Star reported that the MVP Group is firming up funds to “make an aggressive offer” for Sky Cable, which is valued at around P15 billion to P18 billion.

Sky Cable’s parent firm ABS-CBN Corporation told the local bourse on Monday that it hasn’t made any decision to sell its subsidiary yet.

“Sky Cable has not solicited this bid to sell the company, nor has ABS-CBN Corporation made any decision with regard to a divestment of Sky Cable,” ABS-CBN said.

PLDT’s direct-to-home satellite television arm is Cignal TV – a rival of Sky Cable’s Sky Direct. Sky Cable also offers fiber internet services.

Under normal circumstances, the rumored buyout would be flagged for competition concerns.

But the Philippine Competition Commission suspended its mergers and acquisitions review for transactions worth less than P50 billion, following the signing of the Bayanihan to Recover as One bill into law. – Rappler.com