The signatures are in. PLDT Inc. and Manila Electric Co. (Meralco) have signed the share purchase agreement covering the sale of Meralco's controlling stake in Radius Telecoms, advancing a transaction that will eventually make Radius a wholly owned subsidiary of PLDT.
In a disclosure on Friday, Meralco confirmed authorized representatives of Paragon Vertical Corp., PLDT, and Radius signed the agreement.
"A Share Purchase Agreement covering the Transaction was signed by authorized representatives of Paragon, PLDT, and Radius (on) June 4, 2026," Meralco said.
The transaction involves the sale of Paragon's entire 65.1-percent stake in Radius, equivalent to 4.65 million common shares, for P2.935 billion. PLDT currently owns the remaining 34.9 percent stake in the company.
Paragon is a wholly owned subsidiary of e-Meralco Ventures Inc., which in turn is wholly owned by Meralco.
Upon completion of the transaction, Radius will cease to be a subsidiary of Meralco and will become a wholly owned subsidiary of PLDT.
"The sale of Meralco's stake in Radius enables the Company to realize value from its investment while allowing PLDT to complete its full ownership of Radius," the company said.
The transaction was approved by Meralco's board on 4 May and by PLDT's board on 14 May.
Under the agreement, the purchase price will be paid in cash, with 60 percent payable at closing and the remaining 40 percent payable within 10 months from closing or on an earlier date determined by PLDT.
