NTT DoCoMo says may increase stake in Philippines' PLDT up to 21 pct |
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Published
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Thu, 21 Jun 2007 06:23
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MANILA (XFN-ASIA) - Japanese mobile phone firm NTT DoCoMo Inc said it is open to increasing its stake in Philippine Long Distance Telephone Co (PLDT) up to 21 pct, the maximum allowed, by buying shares in the open market or through negotiated deals.'DoCoMo may increase its ownership of PLDT shares through open market purchases, negotiated purchases, or other transactions, up to the limitation of 21 pct, if DoCoMo deems market and other conditions as favorable,' according to a DoCoMo statement submitted by PLDT to the Philippine Stock Exchange.'However, DoCoMo may not do so if DoCoMo does not deem market and other conditions as favorable or DoCoMo otherwise decides.'PLDT was queried by the stock exchange about a local newspaper report yesterday saying DoCoMo,which currently owns 14.5 pct of PLDT, was planning to increase its stake in the Philippines' largest telecoms firm to 20 pct.PLDT shares closed up 25.00 pesos at 2,710.00.(1 usd = 46.12 pesos)erik.delacruz@xfn.comedc/mas
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NTT DoComo plans to raise stake in Philippines' PLDT to 20 pct - report 