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PLDT, Globe Telecom’s joint associate

PLDT, Globe Telecom’s joint associate in Vega Telecom, is a wholly owned subsidiary of Indonesian-controlled First Pacific Co. Ltd., that’s based in Hong Kong. The computation of PLDT’s ownership profile is based totally on common stocks.

In an possession submitting, PLDT listed in a public possession report company stockholders that were presumed to be Filipino groups.

First Pacific’s and Japanese-owned NTT organization’s possession of PLDT common stocks makes the telecom giant a foreign inventory agency The issuance of one hundred fifty million PLDT balloting favored stocks to PLDT Beneficial Trust Fund, deemed to be a Filipino stockholder, turned into supposed to dilute foreign possession in PLDT. It did now not.
Instead, the inclusion of preferred shares in the capital stock served simplest to confuse the computation of public ownership.

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