MANILA, Philippines — Telecommunications giant PLDT Inc. has finalized its full acquisition of Radius Telecoms Inc., the broadband unit of Manila Electric Company (Meralco), in a deal valued at ₱2.94 billion.
According to a stock exchange disclosure on October 1, PLDT secured 100% ownership of Radius after buying out the remaining majority stake held by Paragon Vertical Corporation, a subsidiary of Meralco.
Prior to the transaction, PLDT held a 34.9% interest, while Paragon controlled 65.1%. Both PLDT and Meralco operate under the leadership of tycoon Manuel V. Pangilinan.
Under the share purchase agreement, PLDT acquired 4.65 million common shares of Radius at ₱631.52 per share, alongside six qualifying shares previously held by Paragon’s nominee directors.
The payment structure required 60% of the total purchase price upon closing, with the remaining 40% payable within 10 months or earlier at PLDT’s discretion.
The buyout integrates over 11,000 kilometers of Radius’ existing fiber network into PLDT’s infrastructure, broadening its operational footprint across Mega Manila, Clark, and Cebu. Radius currently supplies direct internet access, cloud integration, global networking, and enterprise connectivity solutions to commercial properties and high-density residential buildings under a active nationwide telecommunications franchise.
The deal aims to bolster PLDT’s broadband segment amid broader economic challenges that led to a revenue dip in the first half of the year, where broadband earnings slipped to ₱30 billion.
Despite the dip in revenue, PLDT’s subscriber base grew four percent year-on-year to 4.37 million as of June, a figure expected to rise further with the inclusion of Radius’ existing enterprise and residential portfolio.