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After months of speculation, Philippine Long Distance Telephone Co. chairman Manuel V. Pangilinan said they are aiming for a minority stake in GMA Network Inc.
In a phone interview, Pangilinan declined to comment on reports that PLDT is nearing the completion of a buyout of GMA's main shareholders.
He only said "it is a fair statement" to say he is aiming for a minority stake in GMA.
Unverified reports indicate that the PLDT group is aiming at least 40% of GMA7 after one of the three major family who owns GMA7 (Gozons, Duavits and Jimenezes) declines any offer to sell their stake with the PLDT Group. The Gozons according to reports welcomes the offer from MVP as competition in the advertising business intensifies.
Unverified reports indicate that the PLDT group is aiming at least 40% of GMA7 after one of the three major family who owns GMA7 (Gozons, Duavits and Jimenezes) declines any offer to sell their stake with the PLDT Group. The Gozons according to reports welcomes the offer from MVP as competition in the advertising business intensifies.
