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Byline: Doris C. Dumlao
LIBERTY TELECOMS HOLDINGS INC., A joint venture between the diversifying San Miguel Corp. and Qatar Telecom QSC, will get P4.8 billion in fresh equity to pave the way for its reentry into the highly competitive telecommunications industry.
LTHI disclosed to the Philippine Stock Exchange yesterday that its board of directors had approved an increase in its authorized capital stock to P6.8 billion from P2 billion. In line with this recapitalization program, the board also allowed key shareholders to subscribe to new preferred shares at P3 apiece.
The company plans to issue 1.2 billion preferred shares to San Miguels VegaTelecom Inc., …