Data from the Philippine Stock Exchange showed the telecommunications giant trading P686.13 million worth of 409,460 shares from Aug. 30 to Sept. 2, making it the 11The stock’s price slid by 2.5% to close at P1,669 per share last Friday on a week-on-week basis. Similarly, PLDT has declined by 2.5% since the start of the year.
The investment deal between the Lopez-owned media company and TV5, signed last Aug. 10, was scrapped last Thursday.The two companies also ended their subsidiaries’ agreement. Cignal Cable Corp. was supposed to acquire a minority 38.88% stake in Sky Cable Corp. worth P2.86 billion. Both analysts said traders should keep an eye on the telco group’s latest launch of Tindahan Ni Bossing .
Other than finances, the TINBO number can also be used to buy prepaid loads for cellular phones, Pay TV, and internet needs. “In the short term, we believe it will have little impact on PLDT’s revenue because only a small percentage of OFWs will have access for the time being, and there are already existing Fintech mobile applications in the Philippines and abroad that OFWs are using,” Mr. Lood said.
Source: News Formal (newsformal.com)
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