Swedish incumbent TeliaSonera has completed its 9.44% stake sale in Digitel Mobile Philippines (DMPI), a subsidiary of Philippine conglomerate JC Summit.
The company sold a total of 600 million shares on the stock market and was advised on the sale by…
Swedish incumbent TeliaSonera has completed its 9.44% stake sale in Digitel Mobile Philippines (DMPI), a subsidiary of Philippine conglomerate JC Summit.
The company sold a total of 600 million shares on the stock market and was advised on the sale by Macquarie Capital (Europe). Legal advice was provided by Sycip Salazar Hernandez & Gatmaitan.
The sale closed on September 30, and was spread over a 10-week period. Late August, reports stated that TeliaSonera had sold half of its shares in Digitel for PHP474.61m (US$11m), bringing its stake down to 4.28%.
DMPI is owned by JC Summit (47.45%), PCD Nominee (18.24%), AB Capital Investment (12.51%), as well as by Digitel executives and public shareholders.
