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PLDT Foreign Ownership Case Ruling by JM Bana is a document available to read on EtoBox.

The Supreme Court partly granted the petition challenging the sale of shares in Philippine Telecommunications Investment Corporation (PTIC) by the Philippine government. The Court held that the term "capital" in Section 11, Article XII of the Philippine Constitution refers only to common shares entitled to vote for directors of a public utility, not the total outstanding capital stock. Since foreigners owned over 64% of the common shares of Philippine Long Distance Telephone Company (PLDT), allowing over 40

Author

JM Bana

Language

EN