Full Description

Philippine Long Distance Telephone Company (PLDT) is a diversified telecommunications company in the Philippines. Smart Communications, Inc. (Smart), PLDT's wholly owned subsidiary, is the cellular service provider in the country. The Company operates through three segments: Wireless, Fixed Line, and Information and Communications Technology (ICT). On June 4, 2008, PLDT acquired the fixed line assets of Pilipino Telephone Corporation (Piltel). On March 24, 2008, ePLDT, Inc. (ePLDT) acquired additional shares from Airborne Access Corporation (Airborne Access) thereby increasing its 51% ownership interest to 99.4%. On May 1, 2008, Smart Broadband, Inc. (SBI) acquired from ePLDT the 99.4% equity ownership in Airborne Access. On April 28, 2008, Smart acquired PH Communications Holdings Corporation (PHC) and Francom Holdings, Inc. (FHI), which collectively own 100% of Connectivity Unlimited Resources Enterprises.