Udenna will not buy ABS-CBN, says Dennis Uy


MANILA, Philippines – Billionaire Tycoon Dennis Uy, a campaign supporter of President Rodrigo Duterte, has denied speculations that his holding company Udenna Corporation has plans to acquire ABS-CBN Corporation.

Dennis Uy said that the company has no plans on venturing into broadcasting as of the moment.
“Let me be clear once and for all and say that we, in Udenna Corporation, have no intention to acquire ABS-CBN.”

“Being in the business of broadcasting is not part of our corporate direction,” He said in a statement.

The Udenna’s chairman and CEO hopes that ABS-CBN and their issues with the franchise could be resolved at the soonest time.

“Mataas ang respeto ko sa nagawa at patuloy na ginagawa ng ABS-CBN. Atin pong lubos na kinikilala kung ano ang kanilang sinasagisag para sa mga kapwa nating Pilipino,” he added.
ABS-CBN signed off last Tuesday evening after the National Telecommunications Commission issued a cease and desist order to ABS-CBN following the lapse of the network’s franchise.

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