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                    [ArticleID] => 256255
                    [Title] => PLDT to offset Smart receivables to effect non-cash deal on Piltel sale
                    [Summary] => Philippine Long Distance Telephone Co. (PLDT) will merely offset its receivables from mobile phone subsidiary Smart Communications to effect a non-cash transaction in the latter’s initial acquisition of a 45-percent stake in sister company Pilipino Telephone Inc. (Piltel).


Smart has just entered into a sale and purchase agreement with PLDT to acquire the latter’s 59.3 million Series K convertible preferred shares in Piltel  for P2.066 billion.


                    [DatePublished] => 2004-07-04 00:00:00
                    [ColumnID] => 133272
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                    [ArticleID] => 256140
                    [Title] => Smart acquires PLDT preferred shares in Piltel for P2.066B
                    [Summary] => Smart Communications entered into a sale and purchase agreement yesterday with parent Philippine Long Distance Telephone Co. (PLDT) to acquire the latter’s 59.3 million Series K convertible preferred shares in PLDT-subsidiary Pilipino Telephone Inc. (Piltel) for P2.066 billion.


On full conversion, Smart and PLDT will own 92.1 percent of Piltel. PLDT’s stake in Piltel consists of 767 million common shares and 59 million Series K PLDT preferred shares convertible into Piltel common shares at a ratio of 170 to one. 


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CLASS I SERIES K

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                    [ArticleID] => 256255
                    [Title] => PLDT to offset Smart receivables to effect non-cash deal on Piltel sale
                    [Summary] => Philippine Long Distance Telephone Co. (PLDT) will merely offset its receivables from mobile phone subsidiary Smart Communications to effect a non-cash transaction in the latter’s initial acquisition of a 45-percent stake in sister company Pilipino Telephone Inc. (Piltel).


Smart has just entered into a sale and purchase agreement with PLDT to acquire the latter’s 59.3 million Series K convertible preferred shares in Piltel  for P2.066 billion.


                    [DatePublished] => 2004-07-04 00:00:00
                    [ColumnID] => 133272
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                (
                    [ArticleID] => 256140
                    [Title] => Smart acquires PLDT preferred shares in Piltel for P2.066B
                    [Summary] => Smart Communications entered into a sale and purchase agreement yesterday with parent Philippine Long Distance Telephone Co. (PLDT) to acquire the latter’s 59.3 million Series K convertible preferred shares in PLDT-subsidiary Pilipino Telephone Inc. (Piltel) for P2.066 billion.


On full conversion, Smart and PLDT will own 92.1 percent of Piltel. PLDT’s stake in Piltel consists of 767 million common shares and 59 million Series K PLDT preferred shares convertible into Piltel common shares at a ratio of 170 to one. 


                    [DatePublished] => 2004-07-03 00:00:00
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abtest

PLDT to offset Smart receivables to effect non-cash deal on Piltel sale

July 4, 2004 - 12:00am

Philippine Long Distance Telephone Co. (PLDT) will merely offset its receivables from mobile phone subsidiary Smart Communications to effect a non-cash transaction in the latter’s initial acquisition of a 45-percent...

Business

Smart acquires PLDT preferred shares in Piltel for P2.066B

July 3, 2004 - 12:00am

Smart Communications entered into a sale and purchase agreement yesterday with parent Philippine Long Distance Telephone Co. (PLDT) to acquire the latter’s 59.3 million Series K convertible preferred shares...

Business