By Alena Mae S. Flores
Mediaquest Holdings Inc., a unit of Philippine Long Distance Telephone Co. Beneficial Trust Fund, yesterday said it is in discussions for a possible acquisition of a stake in BusinessWorld Publishing Corp.
PLDT said in a disclosure to the Philippine Stock Exchange that Mediaquest was looking at opportunities in the television broadcast and print businesses.
“It is in discussions regarding a possible acquisition of an equity interest in BusinessWorld Publishing Corp.,” PLDT said.
PLDT chairman Manuel Pangilinan, popularly known as MVP, last week said he expected to sign a deal in the next two to three weeks to acquire the 30 percent interest of businessman Iñigo Zobel for P30 million to P40 million.
Pangilinan said he was also interested in acquiring 100 percent of BusinessWorld.
“Yes, our preliminary thinking is to talk to employees who are also shareholders... to consider if they want to sell the whole or just part of the shares in the company,” Pangilinan said.
Meanwhile, PLDT said it was “not presently involved in any bidding or negotiation for the acquisition of any television network.”
http://www.manilastandardtoday.com/?page=business04_june20_2006
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