Quick takes from around the market
NOW Corp [NOW 1.42 4.41%] [link] owner is being accused by a local thinktank of insider trading and NOW stock price manipulation. Infrawatch filed a complaint with the SEC that says NOW failed to disclose material negative information that would have significantly impacted the financial standing of the company. Seems like the “4th telco” claim really ruffled some feathers.
DITO [DITO 5.45 3.22%] [link] may not be able to sell more than 50% of Dito Telecommunity to China Telecom, as Biylo reported the final text of Public Service Act amendments would impose a reciprocity cap that would limit China Telecom’s potential stake to 50%. That doesn’t stop Totally Not China Telecom Inc. from buying the other 50%, though, so the gate might not be all that effective against Chinese state-level firms.
Philippine Bank of Communications [PBC 18.46] received an upgrade to a “universal banking license” from the BSP. The new license allows the bank to make investments in non-allied companies (“commercial” banks can only invest in companies within the same ownership ecosystem), and increases PBC’s cap on total investments to 50% (up from just 35% as a commercial bank).
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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