buyout - updates

Rappler's latest stories on buyout

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#ThewRap: Things you need to know, April 20, 2017

Apr 20, 2017 - 11:30 AM

Hello Here are the stories you shouldn t miss this Thursday

PCC takes buyout battle with telcos to Supreme Court

Apr 19, 2017 - 3:55 PM

The Philippine Competition Commission wants to be allowed to review the transaction between San Miguel PLDT and Globe

GOES TO HIGH COURT. PCC Chairman Arsenio Balisacan (extreme left) announces the Office of the Solicitor General (OSG) filed on behalf of the PCC last Tuesday, April 18 a petition before SC to lift injunction on telco review. Photo by Chrisee Dela Paz/Rappler

CA denies PCC plea to lift TRO on San Miguel buyout review

Mar 02, 2017 - 1:19 PM

The CA s Special 12th Division orders the PCC to remove from its website its preliminary statement of concern containing an initial finding that the deal is likely to substantially prevent restrict and lessen competition in the telco industry

KEY PLAYERS. (from left) PLDT head Manuel V. Pangilinan, Philippine Competition Commission Chairman Arsenio Balisacan, and Globe chief Ernest Cu are at an impasse over the San Miguel telco buyout. File photos

Globe Telecom hikes 2016 spending to over $1B

Oct 20, 2016 - 4:29 PM

Its board of directors approves additional capital expenditure of 300 million for network expansion

HIKES SPENDING. According to Globe, the additional CAPEX of $300 million will be used for mobile network expansion ($160 million), corporate data network ($50 million), and broadband network ($90 million)

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Oct 06, 2016 - 9:38 PM

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PCC: San Miguel telco deal rushed to evade PCC rules

Aug 15, 2016 - 8:30 AM

In acquiring San Miguel s assets PCC says PLDT and Globe made a conscious effort to ensure the acquisition will be beyond the reach of the law

BATTLE LINES DRAWN. PLDT and Globe remain at odds with the PCC over the San Miguel telco buyout deal. Photo of Pangilinan (L) by AFP, photo of Balisacan (R) by Malacañang

San Miguel telco buyout creates 'more barriers' to entry – experts

Aug 08, 2016 - 8:00 AM

Has the feasibility of a 3rd player in the near future been quashed by the deal? My answer is a qualified yes says a senior research fellow of the Philippine Institute for Development Studies

GAME CHANGER. Hopes of San Miguel coming in as 3rd player were shattered after the two telecom giants bought all of its assets last May. Background photo from Shutterstock

Court approves consolidation of PLDT, Globe petitions vs PCC

Aug 04, 2016 - 4:10 PM

The Court of Appeals approves Globe Telecom s urgent motion to consolidate its petition with that of PLDT – days after it junked the telco s appeal to stop gov t review of the buyout deal

BATTLE LINES DRAWN. The chiefs of PLDT, Globe and PCC maintain different stance on San Miguel telco buyout deal. Pangilinan's (left) photo by Agence France-Presse, while Balisacan's (right) photo by Malacañang

PCC tells CA: Consolidation a 'ploy to forum shop'

Jul 31, 2016 - 4:01 PM

The Philippine Competition Commission calls Globe Telecom s plea to consolidate its petition with that of PLDT as an attempt to forum shop for a more favorable ruling by the 12th Division

'PROCEDURAL ABSURDITY.' PCC says the consolidation of Globe’s and PLDT’s cases 'will prejudice the rights of [PCC] and may result into a procedural absurdity'

PLDT, Smart commit 3-year network rollout to NTC

Jul 25, 2016 - 12:35 AM

According to the network rollout plan Smart is rapidly expanding both the coverage and capacity of its LTE service

NETWORK COMMITMENT. PLDT, Smart submit 3-year network rollout planto NTC. In photo, PLDT Regulatory Head Ray Espinosa (6th from left) and PLDT-Smart Chief Technology and Information Advisor Joachim Horn (2nd from left) present copies of the plan to NTC Commissioner Gamaliel Cordoba (3rd from left). Photo from Smart Communications

CA junks Globe's plea to stop review of San Miguel telco buyout

Jul 22, 2016 - 10:43 PM

The undue haste exhibited by the parties to run to the courts to stop PCC s review is now confirmed as unjustified the Philippine Competition Commission says

NOT A TYPICAL DEAL. With San Miguel entrusting its prized 700 megahertz spectrum to Globe and PLDT, will this mean better, more reasonable Internet services for subscribers? Photo from Shutterstock

Battle lines drawn over San Miguel's telco buyout deal

Jul 21, 2016 - 9:27 PM

The Philippine Competition Commission argues the deal between PLDT Globe and San Miguel falls within the scope of its review

KEY PLAYERS. (from left) PLDT head Manuel V. Pangilinan, Philippine Competition Commission Chairman Arsenio Balisacan, and Globe chief Ernest Cu are at an impasse over the San Miguel telco buyout. File photos

PCC, telcos meet to discuss San Miguel telco buyout

Jul 10, 2016 - 6:30 PM

After the dialogue the PCC stands by its position that PLDT s and Globe s acquisition of SMC s telco business is not deemed approved

REMAINS HANGING. The acquisition of San Miguel's telco assets by PLDT and Globe remains hanging. In the photo: Manuel V. Pangilinan (L) laughs with Ray Espinosa (R) on a comment on PLDT and Globe's marriage. Photo by Chrisee Dela Paz/Rappler

PLDT, Globe resubmit SMC telco buyout report to PCC

Jun 16, 2016 - 8:10 PM

But PLDT and Globe clarify they are not abandoning their stance that the deal is already deemed approved and may no longer be challenged by the PCC

STERN TEST. Philippine Competition Commission (PCC) Chairman Arsenio Balisacan (center) tells PLDT head Manuel V. Pangilinan (left) and Globe chief Ernest Cu (right) that they cannot proceed with the terms of the deal until the PCC approves their report.

PLDT, Globe shares down as PCC keeps an eye on SMC telco deal

Jun 13, 2016 - 5:30 PM

UPDATED The PCC warns PLDT and Globe of possible violations should they not comply with the watchdog s rules

FACES STERN TEST. PCC Chairman Balisacan (center) tells PLDT head Pangilinan (left) and Globe chief Cu (right) that they cannot proceed with the terms of the deal until the agency approves their report

PCC rejects PLDT, Globe report on San Miguel telco buyout

Jun 10, 2016 - 6:52 PM

UPDATED Despite the anti trust body s decision PLDT and Globe firm up their stance saying the PCC has no power to undo their deal based on its claim

'NOT DEEMED APPROVED.' The chairman of PCC says the telco buyout deal is 'not deemed approved'

A long, winding road for better Metro Manila transport

Jan 09, 2016 - 1:30 PM

Several infrastructure deals that are seen to solve the nightmarish Metro Manila traffic are still hounded by delays

LONG, WINDING ROAD. Most projects that are supposed to solve the horrendous Metro Manila traffic have snagged delays by policy U-turns and legal roadblocks. Graphics by Alyssa Arizabal/Rappler

DOJ dismisses Ang's syndicated estafa complaint vs Gozon

Sep 11, 2015 - 2:48 PM

Ramon S Ang gets back his P1 billion from Felipe Gozon In return Gozon receives a substantial amount from Ang The details of their settlement are confidential

REASONABLE. The settlement agreed upon by Ang and Gozon – through the efforts of a common friend – was reasonable and was mutually accepted by them, the Gozon Group says Friday, September 11, 2015. Ang file photo by Aya Lowe; Gozon file photo by Manman Dejeto

Ramon Ang, Gozon group reach settlement

Aug 13, 2015 - 12:17 PM

UPDATED GMA Network head Felipe L Gozon agrees to return the P1 billion downpayment to the businessman

Photo by Chrisee Dela Paz/ Rappler

GMA's Gozon open to 'reasonable settlement' with Ramon Ang

Aug 06, 2015 - 7:33 PM

Meanwhile GMA Network is scheduled to meet with PLDT and continues to negotiate with Globe Telecom for content distribution

'SMART BUSINESSMAN'. "Mr. Ang is a very smart and experienced businessman. It will be very hard to defraud him" GMA's Felipe Gozon says. In the photo are the executives of GMA Network. Photo by Chrisee Dela Paz/ Rappler

Ramon Ang negotiated in bad faith, says GMA's Gozon

Aug 05, 2015 - 4:20 PM

UPDATED GMA Network Chairman and CEO Felipe L Gozon says he s keeping the P1 billion downpayment from Ang for damages

Ramon Ang slaps GMA's Gozon with estafa complaint

Aug 03, 2015 - 2:34 PM

2nd UPDATE The business tycoon says the Gozons never returned his P1 billion downpayment for the purchase of a minority stake in the broadcast network despite the breakdown of talks

Blame DOTC for MRT3 mess, experts tell Aquino

Jul 29, 2015 - 12:01 PM

Stop blaming the past administration and the private owner experts tell President Aquino

MIXED REVIEWS. Transportation experts say the Aquino administration succeeded in delivering roads and bridges, but failed in developing airports, sea ports, and railways.

SONA 2015: Aquino blames private firm for MRT3 woes

Jul 27, 2015 - 7:29 PM

The President does not take to task Transportation Secretary Joseph Emilio Abaya over the MRT s frequent technical glitches and service interruptions

LESSER MAINTENANCE? This new MRT3 prototype train car will be delivered in the Philippines by August and will result in lesser maintenance requirement in the future. Photos from DOTC

Globe hikes Bayantel stake, buys out Lopez group

Jul 21, 2015 - 4:49 PM

Globe Telecom Incorporated will secure 98 57 stake in Bayan Telecommunications Incorporated once the buyout is done

PSE to raise P1.15B for PH dealing system funding

May 28, 2015 - 5:06 PM

The local bourse is eyeing to acquire 100 interest in the operator of the country’s markets for fixed income securities and foreign exchange

Charter near deal on $55B buyout of Time Warner Cable

May 26, 2015 - 11:21 AM

Charter the fourth largest US cable provider will boost its profile dramatically if it acquires Time Warner Cable which is second in the US market

IMPENDING BUYOUT? A file photo dated 13 February 2014 shows a general view of the Time Warner Center in New York City, New York, USA. Photo by Jason Szenes/EPA

Abad: GOCC dividends, Treasury gains to fund MRT3 buyout

May 12, 2015 - 1:03 PM

The government can also borrow money but with the the approval of the Office of the President if GOCC dividends and Treasury gains are not realized Budget Secretary Florencio Abad says

Alsons to take over Australia's Indophil PH

Jan 16, 2015 - 8:19 PM

Mindanao based Alsons Group s stake in the Australian mining firm will also hike its interest in Sagittarius Mines the concessionaire of the controversial Tampakan exploration project

Sobrepeña: MRT3 price tag less than P20B

Dec 17, 2014 - 7:49 PM

It turns out that the MRT3 is cheaper than expected One of its owners says its equities cost less than P20 billion

MRT3 OWNER. Robert John Sobrepena no longer sits at the Metro Rail Transit Corporation board, but i still one of the shareholders of the Metro Rail Transit line 3. Photo by Mark Cristino / Rappler.com

Abaya: Gov't to proceed with MRT3 buyout

Nov 21, 2014 - 3:21 PM

The journey to the government s takeover of the MRT3 is being opposed but DOTC Secretary Joseph Emilio Abaya says the government has Executive Order 126

The government wants to nationalize the entire assets of the MRT3 to do away with having to pay its concessionaire hefty charges every year, as well as to cut costs in acquiring service contracts. Photo by Mick Basa / Rappler

MRT3 buyout begins in January 2015

Oct 16, 2014 - 9:45 PM

The government wants full control of MRT3 so it would no longer have to pay MRTC huge fees annually The takeover also aims to expedite procurement of maintenance contracts

mrt3, north edsa, mrt

MRT3 owners open to a buyout

Oct 02, 2014 - 1:23 PM

MRT Holdings II is willing to be bought after reaching a compromise with government which includes considering a proposal to upgrade MRT3

DOTC: OSG opinion on gov't MRT3 takeover should be out soon

Sep 23, 2014 - 6:11 PM

The Solicitor General s opinion is needed for government to enter a compromise agreement with MRTC and facilitate the needed upgrade of the troubled rail system

Cabangon-Chua acquiring RPN-9

Aug 21, 2014 - 11:14 AM

Antonio Cabangon Chua of Aliw Broadcasting is taking over as chairman of the television network

PAL defers stockholders’ meeting as buyout talks drag on

Aug 19, 2014 - 4:09 PM

PAL shareholder the Lucio Tan group is buying out San Miguel from PAL The parties are still negotiating the terms

BACK IN THE BLACK. Philippine Airlines is back in the black with an ambitious fleet renewal program, as the 8th Airbus 321-231 ordered by the flag carrier arrived recently from Hamburg, Germany. File photo from Philippine Airlines

PAL is back in the black

Aug 15, 2014 - 7:41 PM

The flag carrier books a P1 5 billion income for Q2 amid talks to buy back San Miguel’s 49 stake in PAL by the Lucio Tan group

MVP, Ayala groups not interested in PAL

Aug 05, 2014 - 8:03 PM

The groups say they are not interested in the flag carrier whose major shareholders are in sale talks

BUYBACK. The LT Group is reportedly raising close to $1 billion to buy back the 51% of SMC and to pay the advances made by the diversified conglomerate to PAL for the purchase of brand new aircraft. File photo by Agence France-Presse / Jay Directo

San Miguel eyes Philippine Airlines buyout

Jul 31, 2014 - 4:48 PM

San Miguel confirms local news reports that its president Ramon Ang and PAL were hopeful to buy out the rest of the carrier s shares by end September

San Miguel confirms local news reports that its president Ramon Ang and PAL were "hopeful" to buy out the rest of the carrier's shares by end-September. File photo by Agence France-Presse

Govt eyes to complete MRT-3 buyout by yearend

Sep 02, 2013 - 8:29 PM

The deal will cost around P55 billion says Transportation department chief Joseph Emilio Abaya

FULL CONTROL. The government eyes the completion of its takeover of MRT-3 from Metro Rail Transit Corp at the end of the year. File photo by AFP

Dell panel reiterates backing for founder's buyout

Mar 30, 2013 - 7:27 AM

A special committee set up by Dell backs the buyout of its founder Michael Dell