Previously, the companies were capped by the 40-percent foreign ownership limit under the 1987 Constitution.
“There is no desire to increase foreign equity in PLDT at present, so in that sense, PLDT is neutral on this issue,” he said on Thursday. The Senate bill would still need to be reconciled with the version of the lower house before being transmitted to Malacañang for final approval.Froilan Castelo, Globe general counsel, said the measure would “benefit more future telcos.”
Dito CME, owned by Davao-based tycoon Dennis A. Uy, also benefits since it would allow greater foreign investment into Dito Telecommunity, which is in the midst of rolling out its network.
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