June 21, 2007
Updated 15:13:24 (Mla time)
MANILA, Philippines -- Japanese mobile phone firm NTT DoCoMo Inc. is open to increasing its stake in Philippine Long Distance Telephone Co. (PLDT) up to 21 percent, the maximum allowed, by buying shares in the open market or through negotiated deals.
"DoCoMo may increase its ownership of PLDT shares through open market purchases, negotiated purchases, or other transactions, up to the limitation of 21 percent, if DoCoMo deems market and other conditions as favorable," according to a DoCoMo statement submitted by PLDT to the Philippine Stock Exchange.
"However, DoCoMo may not do so if DoCoMo does not deem market and other conditions as favorable or DoCoMo otherwise decides."
PLDT was queried by the stock exchange about a local newspaper report Wednesday saying DoCoMo, which currently owns 14.5 percent of PLDT, was planning to increase its stake in the
PLDT shares closed up P25 at P2,710.
http://services.inquirer.net/express/07/06/21/html_output/xmlhtml/20070621-72581-xml.html
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