PLDT Inc. has fully acquired Radius Telecoms Inc. (Radius) from Manila Electric Co. (Meralco) for P2.94 billion.
“Further to the disclosures made on May 4, 2026, May 14, 2026, and on June 4, 2026, please be informed that PLDT has completed the acquisition of 65.1 percent equity stake of Paragon Vertical Corporation in Radius Telecoms, Inc.,” Meralco said in an Oct. 1 disclosure.
“As a result of this acquisition, the business unit is now a wholly owned subsidiary of PLDT,” it added.
Meanwhile, PLDT told the bourse that “further to our letter dated May 14, 2026, we hereby disclose that we have completed the acquisition of the remaining 65.1 percent equity interest in Radius Telecoms, Inc.”
“As a result of this acquisition, we now own 100 percent of the total issued and outstanding capital stock of the business unit.”
In June, Meralco said that it had signed a share purchase agreement with the telco covering the sale of 4,647,494 common shares in Radius to PLDT.
Radius provides end-to-end services over a full fiber optic network spanning over 11,000 kilometers in Metro Manila and nearby provinces, including Clark and Cebu.
The broadband firm holds a congressional franchise to construct, install, establish, operate, and maintain basic and enhanced telecommunications services in the country.
PLDT’s share price rose by P10 to close at P1,088 each on Friday while Meralco’s share price fell by P1.20 to P416 apiece.
