PLDT to invest P2.1B in Meralco telco unit

By The Manila Times

Feb 01, 2024 12:19 am

PLDT Inc. on Wednesday said it was set to invest P2.1 billion in Radius Telecoms Inc., a telco unit of Manila Electric Co. (Meralco), to strengthen its market position and increase its market share in the Philippines.

The company's strategic investment will see PLDT acquire 2.49 million shares, or a 34.9 percent equity stake in Radius, bolstering its fiber network reach and unlocking potential synergies between the two firms.

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