Welcome to the top twenty something index issues of the PSEi that have big market capitalization, plus some banks and financial big caps as well
With the dollar strengthening and with improving US economic indicators, TEL will likely continue to rise in its peso price. But I do agree with you, maybe JP's P3,000 might just be too much unless their time frame is very much far down the road.
Even JGS will be "window-dressed". When they were paid PLDT shares last Oct, PLDT price was at P2,320. At current price of P2,534, the P200 differential presents a paper gain of P3.4B on JGS' 17.31MM in locked-in PLDT shares.
Jan. 18 (Bloomberg) - Philippine Long Distance Telephone Co. (TEL PM), the nation’s biggest phone company, climbed 2.8 percent to 2,826 pesos, the highest close since March 2008. Its share price target was raised to 3,400 pesos from 3,000 pesos at Morgan Stanley, which kept an “overweight” rating on the stock. JG Summit Holdings Inc. (JGS PM), which owns 8 percent of Philippine Long Distance, advanced 5.3 percent to 28 pesos, the highest since May 12, 2011.
http://www.bloomberg.com/apps/news?pid= ... b0crnCjHzg
Jan. 19 (Bloomberg) -- Philippine Long Distance Telephone Co. said minority shareholders of Digital Telecommunications Philippines Inc. tendered 2.89 billion shares.
The shares represent 94 percent of Digital shares held by the public, for which it will pay 600 million pesos in cash and 1.6 million Philippine Telephone shares, the company said in a disclosure to the exchange.
Philippine Telephone said it will own 10.2 million common shares or 98 percent of Digital’s enlarged capital base following the tender offer. It expects to file a petition for the voluntary delisting of Digital from the stock exchange.
http://www.bloomberg.com/apps/news?pid= ... YKw9afMyAs
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