San Miguel shows its bottle in USD35m telecoms deal

20 Oct 2011

Philippine conglomerate San Miguel Corp has agreed to buy around 38% of corporate-focused telecoms service provider Eastern Telecommunications Philippines Inc from ISM Communications Corp for USD35 million, raising San Miguel’s holding in the company to approximately 78%. Reuters reports that ISM, owned by San Miguel director Roberto Ongpin, previously sold a 40% stake in the broadband operator to Vega Telecom, part of San Miguel, in December 2010. The conglomerate, traditionally focused on the beverage and food sector, has been aggressively expanding in other segments lately, and holds stakes in Philippines-based WiMAX broadband operator Liberty Telecommunications Holdings and Bell Telecommunications Philippines.

Philippines, Bell Telecommunications (BellTel), Eastern Communications (formerly ETPI), Wi-Tribe Telecoms (Liberty Telecoms Holdings),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share