ABS-CBN Corp. and PLDT Inc. have decided to cancel the PHP6.75-billion sale of Sky Cable Corp.’s broadband business and related assets.
The agreement, signed in March last year, had received regulatory approval from the Philippine Competition Commission in January. Both companies released statements, expressing a mutual decision to call off the deal.
READ: Sky Cable, ABS-CBN’s Cable Television to Sign Off on February 26
PLDT Inc. and ABS-CBN Corp. have mutually decided not to proceed with the sale of Sky Cable to PLDT under the sale and purchase agreement signed by and among the parties in March 2023
Meanwhile, Sky’s internet broadband service, SKYFiber remains unaffected
– PLDT
Following the termination of the sale, Sky Cable affirmed that it would continue its operations, originally scheduled to conclude on February 26.
This unexpected turn of events raises questions about the future direction of the broadband and cable television firm.
