PHILIPPINE LONG DISTANCE TELEPHONE CO. Profile

Philippine Long Distance Telephone Company (TEL) was incorporated on November 28,1928 following the merger of four telephone companies under US ownership, namely,Philippine Telephone and Telegraph Company, Cebu Telephone and TelegraphCompany, Panay Telephone and Telegraph Company, and Negros Telephone andTelegraph Company. In 1967, effective control of TEL was sold by General Telephoneand Electronics Corporation to a group of Filipino businessmen.TEL is a telecommunications service provider in the Philippines. Through its threeprincipal business groups - wireless, fixed line, and information and communicationstechnology - TEL offers a wide and diversified range of telecommunications servicesacross the Philippines' most extensive fiber optic backbone and wireless, fixed line andsatellite networks. TEL's subsidiaries and affiliates include Smart Communications, Inc.,ACeS Philippines Cellular Satellite Corporation, PLDT Clark Telecom, Inc., PLDT-MaraTel,Inc., PLDT Subic Telecom, Inc., Smart-NTT Multimedia, Inc., Bonifacio CommunicationsCorporation, PLDT Global Corporation, PLDT-PhilCom, Inc., all are telecommunicationservice providers, and ePLDT, Inc., an integrated information and communicationstechnology provider.On March 29, 2011, the Boards of TEL and JG Summit Holdings, Inc. (JGS) approved theacquisition by PLDT of JGS's and certain other seller-parties' ownership interest inDigital Telecommunications Philippines, Inc., which is the 100% owner of mobile brandSun Cellular operator Digitel Mobile Philippines, Inc., representing approximately51.55% equity stake through share sale and issuance of zero-coupon convertible bondsand intercompany advances.
http://www.pldt.com