Filipino company ISM Communications Corp is currently in talks to acquire control of local telco Eastern Telecommunications Philippines (ETPI). ISM has been in negotiations to buy a 40% stake in ETPI from Australian Gigahertz Network International Pty (AGNI) for several months; last month it acquired a 17.7% stake from Aerocom Investors and Managers Inc through a swap of 6.82 billion ISM shares. ISM plans to fund the purchase of AGNI’s stake from a private placement that it hopes will raise around USD8.2 million.
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