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DITO could end-up as a holding company for significant interests in 3rd telco Dito Telecommunity, Malampaya and South China Sea oil & gas assets, and Chelsea Logistics

The two most recent significant business development in the country are the formation of a third telco to challenge the duopoly and resumption of the exploration and development of the Reed/Recto Bank oil and gas prospects as the Malampaya gas is nearing depletion. The government assembled a sizable spectrum and awarded the same to theContinue reading “DITO could end-up as a holding company for significant interests in 3rd telco Dito Telecommunity, Malampaya and South China Sea oil & gas assets, and Chelsea Logistics”

Ahead of Dito 3rd telco launch, Warburg Pincus cashes out stake in Converge ICT

Converge Information and Communications Technology Solutions, Inc. (Converge) and its shareholders are raising 25.3 Billion Pesos in the Philippines biggest Initial public offering (IPO) since Cemex Holdings Philippines’ (CHP) blockbuster IPO.   The Converge IPO is said to be priced at 16.8 Pesos  a share.   Converge Information and Communications Technology Solutions, Inc. was founded byContinue reading “Ahead of Dito 3rd telco launch, Warburg Pincus cashes out stake in Converge ICT”

Chelsea Logistics (C) 25% owner of 3rd telco also faces current debt funding problems

Chelsea Logistics and Infrastructure Holdings Corp. (C) as with other conglomerates is also facing current debt funding problems. Chelsea (C) is a 70% owned subsidiary of Udenna Corporation.  It is primarily engaged in shipping.  It owns several well-known customer facing subsidiaries such as Trans-Asia Shipping, Starlite Ferries, Chelsea Shipping, and the Supercat Fast Ferry Corporation.Continue reading “Chelsea Logistics (C) 25% owner of 3rd telco also faces current debt funding problems”

Chelsea Logistics (C) emits a warning sign to TEL & GLO holders, offers a glimpse of 3rd-telco’s rapid expansion

Chelsea Logistics and Infrastructure Holdings Corp. (C) claims Dito Telecommunity Corporation (Dito), the third-telco, as an associate with a 25% ownership share. Chelsea Logistics is 70% owned by Udenna Corporation. On May 10, 2019, the Company subscribed to 40,833,333 common shares and 22,916,666 preferred voting shares or equivalent to 25% interest of Dito’s authorized capitalContinue reading “Chelsea Logistics (C) emits a warning sign to TEL & GLO holders, offers a glimpse of 3rd-telco’s rapid expansion”