PLDT confirms SkyCable interest

MANILA, Philippines — PLDT Inc., the listed telco giant of the MVP Group, confirmed yesterday that it is eyeing opportunities with respect to Lopez-owned SkyCable.

In a disclosure yesterday, PLDT said it is evaluating options with respect to SkyCable for possible opportunities.

The telco said it regularly explores opportunities available to the group that may complement its overall business strategy.

“However, there is nothing definite nor disclosable at this time,” PLDT said.

In a separate disclosure, Lopez-owned ABS-CBN said it “has not solicited this bid to sell the company, nor has ABS-CBN Corp. made any decision with regard to a divestment of SkyCable.”

Both ABS-CBN and PLDT made the disclosure in reaction to The STAR’s report that the MVP Group is vying for SkyCable.

The prized cable provider of the beleaguered Lopez Group, is estimated at P15 billion to P18 billion, but the MVP Group is

ready to make an aggressive offer to make sure that it bags the deal, sources also said.

The MVP Group would create a bigger cable business as it also owns Cignal TV, the other direct-to-home satellite television service provider and rival of Sky Cable if the deal pushes through.

Aside from Sky Cable and Cignal, the Villar Group also has a cable company. Its Prime Asset Ventures Inc. (PAVI)’s Streamtech Systems Technology Inc., a company led by Manuel Paolo A. Villar took over the internet systems operations of Planet Cable Inc., which offers cable TV services, cable internet and digital video broadcast. – Louella Desiderio