Pangilinan expects to sign deal selling 15% of his stake in Inquirer to Prietos

August 11, 2017

Manuel V. Pangilinan, chairman and president of Philippine Long Distance Telephone Co (PLDT) said expects to sign an agreement in two weeks to sell his 15 percent stake in the Philippine Daily Inquirer with the Prieto family.

“We’ve reached an agreement with Ms. [Marixi] Prieto in respect to our stake in the Inquirer and I believe the documents should be executed pretty soon. Probably we could sign in the next two weeks or so,” Pangilinan told reporters on the sidelines of a press briefing late Thursday.

He said Ramon S. Ang, president of San Miguel Corp. will then purchase his stake in the Inquirer.

Last month, the Prieto family said they will be selling their shares to Ang.

Pangilinan has interests in Philippine Star, TV5 and Business World. DMS