PLDT Inc., the largest integrated telecommunications group in the country, said Thursday it has completed its investment in Radius Telecoms Inc., an indirect subsidiary of energy distributor Manila Electric Co.
PLDT and Meralco both belong to the group of companies led by businessman Manuel V. Pangilinanan.
PLDT said it subscribed to 2.49 million shares of Radius, equivalent to a 34.9 percent stake in a provider of end-to-end full fiber optic network covering more than 5,000 kilometers in Metro Manila and nearby provinces as well as Clark and Cebu.
Radius is wholly-owned by Paragon Vertical Corp., a unit of e-Meralco Ventures Inc., which in turn is a wholly-owned subsidiary of Meralco.
