PSE Circular for Brokers No. 392-99
PSE Circular for Brokers No. 392-99 • Philippine Stock Exchange • Circulars for Brokers • Mar 3, 1999
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March 3, 1999 PSE CIRCULAR FOR BROKERS NO. 392-99 February 26, 1999 Ms . Eileen M . Lacorte Philippine Stock Exchange, Inc. PSE Center, Exchange Road Ortigas Center, Pasig City Dear Ms. Lacorte : Thank you for seeking clarification regarding the article "Smart Sale to PLDT" that appeared in Business World on 25 February 1999. Please be informed that we did hold an analyst briefing on Wednesday, 24 February, where Mr. Ian Wilson, our Chief Financial Officer, spoke about MPC's year end results. In the course of the discussion he also spoke briefly about the planned injection of Smart into PLDT which was, in fact, announced at the time of PLDT acquisition by the First Pacific group. However, since the transaction is still in process, he also said that the form and substance of the planned injection have not, as yet, been finalized. aisadc The process of this transaction may take a number of months to complete and any formal decisions by Board or shareholders of the relevant parties will be released at the appropriate time. We will inform you of any further developments regarding this matter as they arise. Yours truly, (SGD.) CORAZON P. GUIDOTE Group Vice President Corporate Communication & Investor Relations
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