PSE Circular for Brokers No. 592-98
PSE Circular for Brokers No. 592-98 • Philippine Stock Exchange • Circulars for Brokers • Apr 3, 1998
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April 3, 1998 PSE CIRCULAR FOR BROKERS NO. 592-98 April 2, 1998 PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Centre, Exchange Road Ortigas Center, Pasig City Gentlemen : This refers to your letter dated today requesting clarification of the news article entitled " Globe, Islacom Plan Merger " by Ms. Clarissa S. Batino which appeared in today's issue of the Philippine Daily Inquirer. LexLib Globe Telecom hereby denies the allegations of the aforestated article. The company has had no negotiations, much less any agreement, for a merger with ISLA COMMUNICATIONS COMPANY, INC. (ISLACOM). In the same vein, it has had no negotiations or agreement for the purchase of the controlling stock of the Delgado family in ISLACOM. While merger talks are quite common in the telecommunications industry and are to be expected given the number of competitors in the market, Globe has had no negotiations or agreement with ISLACOM for any merger as of this time. We also wish to clarify 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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