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Friday, March 02, 2001
 
AC ( 03/01/2001 : PSE )
Ayala Corporation (AC) signed a Sale and Purchase Agreement with
Visay-Tech Inc. (Visay-Tech) which embodies the first step in the
combination of Globe Telecom, Inc. (Globe) and Isla Communications
Company, Inc. (Islacom). The agreements covers the purchase by
Ayala of 10,269,000 common shares in Asiacom Philippines, Inc.
(Asiacom) from Visay-Tech. In a related transaction, Visay-Tech
purchased 541,817 Globe shares from Ayala. These transactions
follow the approval of the share swap transactions to implement the
combination between Globe and Islacom by the National
Telecommunications Commission on February 2, 2001. This
combination will result in the creation of a telecommunications
powerhouse with leadership in digital wireless, a wireline service
area footprint covering significant parts of Metro-Manila, southern
Luzon, Visayas and parts of Mindanao, and full service offerings.
Globe and Isla will immediately begin maximizing operating synergies
with the ability to create new and expanded services to drive
increased xustomer usage, and marketing scale to fuel rapid growth.
- posted by StockMarket @ 12:47 AM

Thursday, March 01, 2001
 
AC ( 02/28/2001 : AFX )
Ayala Corp said it executed a sale and purchase agreement with
Visay-Tech Inc, a transaction which will pave the way for the series
of share swaps that will merge Globe Telecom with Isla
Communications Co. Ayala said Visay-Tech's sale of Islacom shares
is the first of a series of transactions that will transform Islacom into a
wholly-owned subsidiary of Ayala unit Globe Telecom. Ayala said
Globe will implement subsequent share swap transactions by June
2001 to complete the merger. It gave no other details. Globe's major
shareholders after the swaps will be Singapore Telecom International,
Ayala Corp and Deutsche Telekom.
- posted by StockMarket @ 12:48 AM

 
AC ( 02/28/2001 : AFX )
San Miguel Corp and Ayala Corp have agreed in principle on an
indicative valuation of 7-9 B pesos for Pure Foods Corp,
BusinessWorld reported, quoting a San Miguel official. The official,
who spoke on condition of anonymity, said San Miguel has not yet
signed an agreement to buy Ayala's 93.26 pct stake in Pure Foods.
But he said Ayala and San Miguel are continuing discussions. "They're
still discussing the general terms but they have not agreed on
anything. (For) indicative values, I think, they have agreement in
principle. It's a range of 7 B pesos to 9 B," he said.

- posted by StockMarket @ 12:47 AM


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