Globe Telecom, the joint venture between Filipino conglomerate Ayala Corp and Singapore Telecommunications (SingTel), yesterday informed the Philippine Stock Exchange that it has amended its earlier cash offer to all the holders of Bayan Telecommunications (Bayan's) remaining 13.5% senior debt notes due 2006, in a bid to sweeten the deal. Globe is looking to become the single major creditor of Bayan, which is under rehabilitation having seen its debts soar to levels of USD325 million in 2003.
See the original article here:
OVETEL Globe Telecom tweaks offer to tempt Bayan creditors
No comments:
Post a Comment