Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Ayala's Mynt stake sale gets antitrust nod
Manila Bulletin
|August 02 2025
The Zobel family’s Ayala Corp. (AC) has closed the sale of a 6.5-percent stake in GCash owner Globe Fintech Innovations Inc. (Mynt) to longtime partner Mitsubishi Corp. for P18.4 billion after the deal was cleared by the antitrust watchdog Philippine Competition Commission (PCC).
In a disclosure to the Philippine Stock Exchange (PSE), Ayala said it has sold half of wholly owned AC Ventures Holding Corp. (ACV) to Mitsubishi. ACV owns about 13 percent of Mynt.
Mynt has two financial technology (fintech) companies: G-Xchange Inc., the mobile wallet operator of GCash, and Fuse Lending, a tech-based microlender.
The PCC has cleared the deal after finding that Mitsubishi’s investment in ACV would not significantly reduce competition in the market for QR code-based digital payments to merchants.
The PCC noted in its decision the relatively small market share held by GCash in the provision of QR-based person-to-merchant payments.
This story is from the August 02 2025 edition of Manila Bulletin.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Manila Bulletin
Manila Bulletin
Phoenix skips preferred dividends
Phoenix Petroleum Philippines Inc. informed the Philippine Stock Exchange (PSE) that it is unable to pay dividends due to its preferred shareholders because it has no unappropriated retained earnings.
1 mins
September 24, 2025
Manila Bulletin
US and China ‘talking past each other’ on key issues, says US lawmaker visiting Beijing
The United States and China are talking past each other on key issues, said a U.S. lawmaker leading a bipartisan congressional delegation to Beijing on Tuesday.
2 mins
September 24, 2025
Manila Bulletin
Jesus summoned the Twelve... and He sent them
Today Jesus sets the Twelve (apostles) out on a mission of preaching and healing.
1 mins
September 24, 2025
Manila Bulletin
Tycoons eye common station bid
The Department of Transportation (DOTr) is in talks with the private operator of Light Rail Transit Line 1 (LRT-1) to complete the construction of the long-delayed common station linking Metro Manila's railways.
2 mins
September 24, 2025
Manila Bulletin
NDRRMC: 3 dead due to 'Nando', 2 other weather disturbances
Three people have died due to the combined effects of Super Typhoon \"Nando\", tropical cyclone \"Mirasol\", and the southwest monsoon (habagat), the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Tuesday, Sept. 23.
2 mins
September 24, 2025
Manila Bulletin
Why you shouldn't ignore viral pneumonia
How this illness is often an unrecognized killer
4 mins
September 24, 2025
Manila Bulletin
Contractors able to collect in full in 3 months – Lacson
Contractors involved in the anomalous flood control projects were able to collect millions worth of payment in as short as three months from the start of their infrastructure project, Senator Panfilo “Ping” Lacson bared on Monday, Sept. 22.
1 min
September 24, 2025
Manila Bulletin
Billboard collapses in Malate due to Nando's strong winds
A large billboard in Malate, Manila collapsed due to strong winds brought by the southwest monsoon and intensified by Typhoon Nando on Tuesday, Sept. 23. No one was reported injured.
1 mins
September 24, 2025
Manila Bulletin
What should I eat to fall asleep?
Know the role of food and other lifestyle factors in promoting sleep
4 mins
September 24, 2025
Manila Bulletin
Eala edges Belarusian rival, advances to second round
Alex Eala survived a gritty challenge from Aliona Falei to pull off a 6-3, 7-5 victory and advance to the second round of the Jingshan Tennis Open in China on Tuesday, Sept. 23.
1 min
September 24, 2025
Listen
Translate
Change font size