PSE Circular for Brokers No. 1247-98
PSE Circular for Brokers No. 1247-98 • Philippine Stock Exchange • Circulars for Brokers • Jun 4, 1998
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June 4, 1998 PSE CIRCULAR FOR BROKERS NO. 1247-98 June 4, 1998 PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Center, Exchange Road Ortigas Center, Pasig City Gentlemen : We refer to your fax of 03 June 1998 regarding the news article entitled "Merger talks proceeding between Globe, BayanTel" which appeared in yesterday's issue of Business World. As we stated in our earlier letter of 02 April 1998 regarding a similar news article, merger talks are quite common in the telecommunications industry and are to be expected given the number of competitors in the market. Relative to the particular article subject of your fax, we wish to clarify that Globe has had no formal negotiations or agreement with Bayantel on any proposed merger as of this time. We also wish to state that the article adverted to was not a press release of Globe Telecom nor did the company cause the publication of this in any other way. We hope this clarifies matters. Very truly yours, (SGD.) ATTY. MA. CARIDAD D. GONZALES Assistant Vice-President, Legal Services Group
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