PLDT pursues buyout of broadband unit

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June 6, 2026 | 12:00am

MANILA, Philippines — Telco giant PLDT Inc. has proceeded with the P2.94-billion buyout of a broadband unit as part of the push to expand national coverage.

In a disclosure to the Philippine Stock Exchange, PLDT said it has completed the share purchase agreement with Manila Electric Co. subsidiary Paragon Vertical Corp. for Radius Telecoms Inc.

The agreement covers PLDT’s buyout of Paragon’s majority stake in Radius, as the telco pushes to scale up network redundancy by widening its fiber backbone.

Prior to this, PLDT managed only 34.9 percent of Radius, with the 65.1 percent held by Paragon. PLDT is acquiring 4.65 million common shares in Radius and is also taking over the six qualifying shares held by nominee directors on behalf of Paragon.

Now, the transaction moves to the hands of regulators, and PLDT is waiting for their decision to complete the buyout of Radius.

“Closing under the share purchase agreement remains subject to applicable regulatory approvals and closing conditions (and) upon closing, the company will own 100 percent of Radius,” PLDT said.

Radius is a strategic asset for PLDT to buy, as the company manages fiber cables that connect to commercial buildings, residential units and township projects.

Radius also holds a congressional franchise to build, operate and maintain telco infrastructure in the Philippines for commercial purposes.

According to the transaction details, PLDT paid 60 percent of the purchase price at closing. The telco will settle the remaining 40 percent of the amount on or before 10 months from closing, or at an earlier date as determined by the management.

PLDT is expanding its fiber footprint to sustain leadership in the broadband market. Competition is firing up in the segment, with rivals Converge ICT Solutions and Globe Telecom Inc. gaining new subscribers thanks to their low-cost products.

Converge added more than 100,000 subscribers in the first quarter, pushing up its customer count to 3.09 million and closer to its target of four million by 2027.

PLDT is still the market leader with 4.29 million subscribers as of March, powered by its 1.25 million kilometers of fiber lines spanning here and abroad.