PLDT, Inc. has decided to keep its remaining stake in German technology company Rocket Internet, the telecommunications firm’s chairman said. Following the sale of most of its Rocket Internet stake last month, PLDT Chair Manuel V. Pangilinan said the group felt “no pressure” to divest its remaining equity in the technology firm given lower valuations. “Share prices of Rocket Internet dropped a bit, [so]there’s no pressure on the part of PLDT. PLDT currently holds about 3 percent equity ownership in Rocket, which translates to a value of around P5 billion. The figure already takes into account the P3.4 billion revaluation gain on its investment in Rocket Internet.

Source: Manila Times June 15, 2018 18:23 UTC