Tuloy pa rin! PLDT agrees to buy Sky Cable for P6.75 billion

PLDT, the telecommunications arm of the MVP Group of Companies, has inked a deal to acquire the entirety of the Lopez family’s Sky Cable Corp. for P6.75 billion.

Swallowed: MVP’s Cignal signs over P7 billion deal to acquire Lopez’s SkyCable lock, stock and barrel

This comes after a previous attempt last year fell through.

Swallowed: MVP’s Cignal signs over P7 billion deal to acquire Lopez’s SkyCable lock, stock and barrel

In a regulatory filing, PLDT announced it had entered an agreement with Sky Vision Corp., ABS-CBN Corp., and Lopez, Inc. to acquire Sky Cable’s broadband business and associated assets. The deal stipulates that PLDT will purchase 100% of Sky’s outstanding capital stock, subject to certain conditions precedent such as the termination of Sky’s pay TV and cable businesses, obtaining all required government approvals, and the payment of the purchase price.

MVP confirms PLDT’s withdrawal of offer to buy Sky Cable

Although the price tag is 13.3 percent lower than the original amount agreed upon, the acquisition presents a strategic opportunity for PLDT.

Lopezes asking for the moon? MVP drops Sky Cable bid as PLDT, Cignal execs see no point in buying rival at high price

Last September, PLDT and ABS-CBN decided to cancel their investment deals due to regulatory concerns raised by the National Telecommunications Commission and lawmakers regarding ABS-CBN’s purchase of 34.99 percent of TV5 Network’s total voting and outstanding capital stock, as well as PLDT’s acquisition of Sky Cable.

Back off! MVP spooked by prospect of losing PLDT, Meralco franchises if he pushed through TV-ABS-CBN, Cignal-SkyCable deals

Perfect fit: MVP confirms BILYONARYO story PLDT keen on SkyCable