PLDT completes P2-B investment in Radius

PLDT Inc. has placed a P2 billion investment in a unit of a sister company, marking another expansion for the telco leader working on solidifying its industry dominance.

- ELIJAH FELICE ROSALES

In a disclosure to the Philippine Stock Exchange, PLDT said it has invested P2.12 billion in Radius Telecoms Inc., controlled by Manila Electric Co. (Meralco), which is also led by tycoon Manuel V. Pangilinan.

"Further to the disclosure we submitted to the PSE on Jan. 30, we announced that on April 30, PLDT Inc. completed its investment in Radius Telecoms Inc. by subscribing to 2,491,516 shares of common stock of Radius, which represents 34.9 percent equity interest," PLDT said.