Pampanga-based businessman Dennis Anthony Uy’s Converge ICT Solutions Inc. is paying $7.5 million to acquire international cable landing stations of PLDT Inc. in Luzon—giving it control of crucial internet gateways to the country.
Converge said in a stock exchange filing on Thursday it signed separate deals with PLDT subsidiary Digital Telecommunications Phils. Inc. to buy Digitel Crossing Inc.
Digitel, whose other major shareholder is Pacnet Network (Philippines) Inc. of Australian telecom giant Telstra, maintains and operates cable landing stations in the Philippines connected to the EAC and C2C cable systems.
International cable systems are the unseen backbone of internet s…
Keep on reading: Converge buys PLDT’s Luzon cable landing stations in pivotal move