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Technology / AI and automation

PHILIPPINE LDT TO BAIL OUT AFFILIATE, PILITEL

Philippine Long Distance Telephone Co will invest $114m in its affiliate Pilipino Telephone Corp to bail the cellular phone out of a cash-flow problem caused by another Philippine phone company failing to pay for the 20% stake it had agreed to buy in Pilitel. The additional investment raises the parent company’s stake to 58% from 31%.

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CBR Staff Writer

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