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What is Gamboa v. Teves: Foreign Ownership Ruling about?

The case involved a petition questioning the indirect sale of shares of the Philippine Long Distance Telephone Company that increased foreign ownership beyond the 40% limit set in the Constitution. In 2011, the court ruled in favor of the petitioner. In this case, the respondents filed a motion for reconsideration arguing the 2011 decision erroneously interpreted the term "capital" in the Constitution. The Court denied the motion, finding no error in its 2011 interpretation that "capital" refers to shares w

Author

Han Sam

Language

EN