TradingMarkets.com
27 Jun 2008
AYALA Corp. on Friday announced that it has sold shares in Globe Telecom Inc. to partner Singapore Telecom International Pte. Ltd. (SingTel).
The Philippine conglomerate said it would use the sale proceeds for its business process outsourcing (BPO) and electronic manufacturing operations.
The company said it sold 3.8 million common shares of Globe to SingTel at P1,210 per share or a total of P4.6 billion.
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