Liberty Telecoms Holdings Inc. has officially filed a petition to voluntarily delist from the Philippine Stock Exchange, with Oct. 31 as target date for its exit fom the bourse.
The delisting was unanimously approved by Liberty Telecom’s majorirty shareholder Vega Telecom Inc. which is equally owned by the country?s two telco giants — PLDT and Globe Telecon.
Vega offered to purchase up to 165.88 million common shares of aliberty Telecoms for P2.20 per share or a toral of P365 million.
The tender offer ommenced last Aug 24 and is expected to end on Sept. 21. It gives minority shareholders the option to exit at the same price afforded to the new major shareholders
