Telco giant PLDT will not be pushing through with the acquisition of Sky Cable, which was earlier signed under a sale and purchase agreement in March 2023.
In the deal, PLDT agreed to purchase 100% of Sky Cable’s issued and outstanding capital stock for a purchase price of P6.75 billion.
However, in a statement by ABS-CBN Corporation and PLDT released today, Feb. 22, both parties have revealed that they have mutually decided not to proceed with the transaction.
Meanwhile, Sky assured its customers that its cable TV service will continue and that they no longer have to cancel their subscriptions. SKY Fiber, its broadband internet service, is also unaffected.
The cable TV service company thanked its subscribers for their support.
“We remain committed to providing the same level of customer experience and service for both our cable and internet services,” the company wrote