Integrated telecommunications firm PLDT Inc. has completed its investment to acquire a 34.9 percent equity interest in Radius Telecom Inc. to boost customer services and market presence.

In a stock exchange report on Thursday, Manila Electric Co. (Meralco) announced that PLDT successfully subscribed to 2.49 million shares of common stock of Radius, a wholly owned subsidiary of Paragon Vertical Corp.

Radius is owned entirely by Paragon, which is a wholly-owned subsidiary of e-Meralco Ventures Inc. In turn, e-Meralco Ventures Inc. is a wholly-owned subsidiary of Meralco.

In January, PLDT initially said investment in Radius could reach P2.116 billion.

Integrate solution capabilities

PLDT affirmed in the report that it wants to partner with Radius to integrate its solution capabilities and expand its market coverage for enhanced telecommunications and broadband internet services.

Radius has fully fiber facilities spanning 150 enterprise buildings and over 200 residential multi-dwelling units and villages.

It holds a congressional telecommunications franchise that gives it authority to establish, install, and operate telecommunications services for commercial purposes and the public good.