PLDT submits Digitel deal for NTC review

MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) voluntarily submitted yesterday the sales and purchase agreement (SPA) dated March 29, 2011 covering its investment in Digitel Telecommunications Philippines Inc. (Digitel) to the National Telecommunications Commission (NTC).

“We are submitting the SPA to the NTC voluntarily to dispel malicious statements made by some parties that PLDT and Digitel have something to hide,” PLDT director and head for regulatory and policy affairs Ray Espinosa said.

He emphasized that they have been very transparent about this transaction since the start and have disclosed all material information about the transaction to the NTC, Securities and Exchange Commission and Philippine Stock Exchange in separate filings.

“The transaction is pro-consumer and will bring about substantial benefits to the general public. With this investment, Digitel customers and the public will be assured that Digitel will have the financial resources need to continue and sustain its popular unlimited services under the Sun Cellular brand. The PLDT Group is committed to support and continue these unlimited services,” he added.