PLDT has completed its acquisition of the remaining 65.1% of Radius Telecoms, giving the telecommunications company full ownership of the fiber network operator.
The acquisition was completed after PLDT agreed earlier this year to buy the stake from Paragon Vertical Corp. for PHP 2.935 billion. Paragon is a wholly owned subsidiary of e-Meralco Ventures Inc., which is owned by Manila Electric Co. (Meralco).
PLDT disclosed the completion to the Philippine Stock Exchange on October 2. In the filing, it said the transaction raises PLDT’s ownership of Radius to 100% of its issued and outstanding capital stock.
PLDT already owned 34.9% of Radius after completing its initial investment in April 2024. The company reported that investment at PHP 2 billion in its subsequent financial filings.
Under the agreement for the remaining stake, PLDT is acquiring 4,647,494 common shares held by Paragon, together with the beneficial interest in six qualifying shares held by nominee directors.
The PHP 2.935-billion purchase price is payable in cash, with 60% due at closing and the remaining 40% payable within 10 months of closing or earlier at PLDT’s discretion.
Radius owns fiber facilities serving enterprise buildings, residential multi-dwelling units, and villages. It also holds a congressional franchise to provide basic and enhanced telecommunications services in the Philippines.
The acquisition ends Meralco’s indirect ownership of Radius through Paragon and makes Radius a wholly owned subsidiary of PLDT.