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Article: Gokongwei fighting to the end: the struggle for the control of PLDT is nearing conclusion. But, as Art Villasanta reports from Manila, there could be a lot more blood on the carpet. (News Analysis).(John Gokongwei plans acquisition of Philippine Long Distance Telephone Company)
- Article from:
- Telecom Asia
- Article date:
- July 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Questex Media Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If this were a football match, the only thing stopping Filipino-Chinese billionaire John Gokongwei Jr. from scoring that winning penalty is a shaky wall of defenders and a fiercely determined goalkeeper.
Whether "Big John" can get his $617 million bid for control of dominant telco, Philippine Long Distance Telephone Company, past PLDT's board and its president/goalkeeper Manuel Pangilinan to end a goalless match remains uncertain at this stage.
But the buzz among some Philippine telecom analysts is that Gokongwei might hit the net despite Pangilinan's last-ditch appeal to Japan's NTT Communications to exercise its right of first refusal and thus deny ...