PLDT to unload Meralco shares

Philippine Long Distance Telephone Co. (PLDT) is in talks with Metro Pacific Investments Corp. (MPIC) as it looks to unload its shares in power utility giant Manila Electric Co. (Meralco) to reduce debts and support capital expenditures.  Meralco is owned directly by two major stockholder groups: Beacon Electric Asset Holdings Inc. and JG Summit Holdings Inc.  PLDT has investments in Meralco through Beacon which is a joint venture of the telco’s unit PLDT Communications and Energy Ventures Inc. and MPIC.  Read more here.

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