PLDT, Inc. was the ninth most actively traded stock last week as investors took profit after news came out that the telecommunications company is selling more towers.
A total of P775.72 million worth of 501.36 million shares exchange hands at the local bourse from Nov.The company’s shares finished at P1,530 apiece on Friday, down by 0.7% week on week. Year to date, the stock’s price decreased by 15.6%.
In a press briefing last week, EdgePoint Infrastructure, a telecommunications infrastructure company, said that it was keen on buying more towers from PLDT. In the third quarter, PLDT’s attributable net income climbed by 79.6% to P10.64 billion after revenues rose 6.8% to P51.53 billion. Its nine-month profit reached P27.38 billion, up 45.3% from a year ago, as revenues rose 6.3% to P152.92 billion.
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