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Byline: Doris C. Dumlao
SAN MIGUEL CORP. BOUGHT YESTERDAY 32.7 percent of dormant Liberty Telecommunications Holdings Inc. for P1.88 billion as part of its foray into the highly competitive telecommunications business.
San Miguel disclosed to the Philippine Stock Exchange that it had acquired 579.11 million shares in Liberty Telecom for P3.25 each. The acquisition of Liberty Telecom, which the conglomerate wants to use as its platform to get a piece of the countrys wireless voice call broadband business, was made through San Miguels wholly owned subsidiary Vega Telecom Inc.
The transaction was done through a block sale shortly after the regular trading …