The Comfort Rooms

PLDT Buys 51.5% Of Sun Cellular!

Mr. Gokongwei (2nd from left), what have you done?

This piece of news shocked my morning. Manny Pangilinan's PLDT has just bought majority shares on John Gokongwei's Sun Cellular worth Php 69.2 billion. Don't worry though because Sun Cellular will still be alive. The change, however will be seen on Digitel, Gokongwei's landline telephone arm.

My miniscule business instincts told me to think of this piece of news as an example of monopoly from MVP (Meralco, anyone?). But no, I've read from newspapers that John Gokongwei is one of the smartest taipans (asian tycoons). And for sure, this development will help blossom (pump prime?) JG Summit's other business interests.

Honestly, I'm not really sure if this is a positive or a negative news. I will still have to read from the columns of my favorite business writers and watch my favorite business shows (all on ANC - haha!) to help me formulate what my opinion really is about this matter.

But for sure, this is one heck of a major business news here in the Philippines.