More than a year of meticulous preparations and negotiations dissipated into thin air.
This is the likely sentiment of the executives, government regulators, lawyers and financial advisers who dedicated a part of their lives working on the P6.75 billion sale of the Lopez family’s Sky Cable, majority owned by ABS-CBN Corp., to telecommunications giant PLDT Inc.
The parties were all waiting for the critical nod from the Philippine Competition Commission. This was finally granted last month and then the unthinkable happened: the deal imploded, with the termination announced through a brief public disclosure.
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