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The Philippine Long Distance Telephone Company (PLDT) was incorporated in the Philippines on November 28, 1928, following the merger of four telephone companies under common US ownership.
In 1967, effective control of PLDT was sold by General Telephone and Electronics Corporation (a major shareholder since PLDT’s incorporation) to a group of Filipino businessmen. In 1981, the Philippine government’s intention to integrate the Philippine telecommunications industry allowed PLDT to purchase the Republic Telephone Company which, at that time, was the second largest telephone company in the Philippines.
PLDT provides telecommunications services across the Philippines using fixed-line, cellular, and satellite networks, and a fibre-optic backbone. PLDT’s three principal business groups are: Wireless, Fixed Line, and Information and Communications Technology.
The common shares of PLDT are listed and traded on the Philippine Stock Exchange (PSE) and prior to October 19, 1994, were also listed and traded on the American Stock Exchange and Pacific Exchange in the US. On October 19, 1994, American Depositary Receipts (ADRs), were issued with each American Depositary Share (ADS) representing one PLDT common share. The ADSs are listed and traded on the New York Stock Exchange and the Archipelago Exchange in the US.
As of May 31, 2005, shareholders owning more than 5% of PLDT's common shares were: Hong Kong-based First Pacific (through its Philippine and other affiliates) (31.2%); PCD Nominee Corporation (the registered owner of shares held by participants in Philippine Central Depositary Inc (PCD), including The Hongkong and Shanghai Banking Corporation (HSBC), Standard Chartered Bank, Larouge BV, Fidelity International Ltd (FIL), and FMR Corporation) (40.31%); NTT Communications of Japan (14.81%); JP Morgan (Hong Kong) (12.92%); and, Social Security System of the Philippines (7.11%).
In January 2006, NTT DoCoMo agreed to acquire approximately 7% of PLDT's total outstanding common shares from NTT Communications.
