PLDT, formerly Philippine Long Distance Telephone Company, was incorporated onNovember 28, 1928 following the merger of four telephone companies under USownership, namely, Philippine Telephone and Telegraph Company, Cebu Telephone and Telegraph Company, Panay Telephone and Telegraph Company, and Negros Telephoneand Telegraph Company. The company’s corporate name was changed to its present formin 2016.In 1967, effective control of PLDT was sold by General Telephone and ElectronicsCorporation to a group of Filipino businessmen. In 1981, PLDT purchased substantially all of the assets and liabilities of Republic Telephone Company, which at that time was the second largest telephone company in the Philippines. Prior to the liberalization of the telecommunications sector in 1993, PLDT was a virtual monopoly in providing telephone service in the country. PLDT’s common shares are listed and traded on the Philippine Stock Exchange, while its American Depositary Shares are listed and traded on the New York Stock Exchange in the US.
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Article by: Ashok – Strategic Coach & Mentor – Philippine Stocks