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LOPEZ PUT SKY CABLE UP FOR SALE

7 months ago | Local Business News | 0 comments

By Xai Reyes

Aside from letting go of thousands of ABS-CBN talent and staff, the Lopezes are putting on the block their cable television subsidiary as the former media giant downsizes following the loss of its franchise.

The Lopez family will reportedly hold closed bidding for the sale of Sky Cable, including its broadband and direct-to-home satellite businesses, in the coming days or weeks.

Report from Bilyonaryo.com.ph said at least three Bilyonaryos see a great fit with their respective businesses have expressed interest in getting Sky Cable off the Lopez; hands.

Dennis Anthony Uy, a Chinese immigrant who has settled in Pampanga, is the CEO of broadband operator Converge ICT Solutions, which is gearing up for a $726 million initial public offering in October.

Another one is Davao-based Dennis Uy, a campaign financier of President Rodrigo Duterte. He is the CEO and majority owner of Dito Telecommunity, which is eyeing to break the telecom duopoly.

The last is the Ayala group, which owns the country’s biggest mobile phone company, Globe Telecom.

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