PLDT Inc. is set to take full control of Radius Telecoms Inc. after its board approved the acquisition of the remaining 65.1 percent stake in the broadband infrastructure provider from Paragon Vertical Corp. for P2.94 billion.
The transaction will consolidate PLDT’s ownership of Radius, which owns fiber facilities serving enterprise buildings, residential multi-dwelling units, and villages across the country, strengthening the telco giant’s push to expand its enterprise and broadband footprint.
PLDT currently owns 34.9 percent of Radius, while Paragon — a wholly owned subsidiary of e-Meralco Ventures Inc. under Manila Electric Company — holds the remaining 65.1 percent.
Under the approved deal, PLDT will acquire 4.65 million common shares of Radius at a price of P632.53 each, pursuant to definitive agreements still to be executed by both parties. Once completed, Radius will become a wholly owned subsidiary of PLDT.
The acquisition price was based on Radius’ business valuation using financial projections, future cash flows, and negotiations between the parties. PLDT said payment will be made in cash, with 60 percent payable upon closing and the remaining 40 percent due within 10 months after closing, or earlier at PLDT’s discretion.
Radius, which maintains offices in Pasig City, holds a congressional telecommunications franchise authorizing it to construct, operate, and maintain telecommunications services within the Philippines and internationally.
The transaction remains subject to customary closing conditions, including the execution of definitive agreements and regulatory approvals from agencies such as the Philippine Competition Commission and the National Telecommunications Commission.
PLDT said the acquisition is not expected to have any adverse effect on its business, financial condition, or operations.
The move comes as telecommunications firms accelerate investments in fiber infrastructure and enterprise connectivity amid rising demand for cloud services, digital platforms, and high-capacity broadband networks from both businesses and households.
