MVP ‘always interested’ in GMA Network

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PHILIPPINE Long Distance Telephone Co. (PLDT) Chairman Manny Pangilinan is “always interested” in buying a minority stake in GMA Network Inc.

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“Always interested,” Pangilinan said. “I think under discussion, there was no final agreement yet.”

Pangilinan has said he was open to another round of talks with GMA after walking away from negotiations earlier.

Last year, Pangilinan said his group had no plans of renewing its offer to buy a stake in GMA Network, particularly after GMA confirmed it was in talks with SMC.

Negotiations for a possible acquisition of P1 billion worth of equity collapsed in 2013. Pangilinan hinted he was getting tired of the chase.

In October 2012, their first round of talks reportedly bogged down over price issues, although GMA Network Chairman and CEO Felipe Gozon and the Duavit and Jimenez families own a combined 79 percent of GMA Network.

PLDT was originally eyeing a minority stake of 34 percent in GMA.

GMA reported a net income of P1.09 billion in the first half of 2015, up 89 percent from the P582 million year earlier.

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