In a disclosure to the Philippine Stocks Exchange, GMA Network's Vice President for Investor Relations and Compliance, Mr. Agusto P. Chio denied the rumors indicating that PLDT head Manny Pangilinan has offered to buy GMA Network for P 500 billion. Accordingly, there has been no talks between GMA Execs and MVP regarding the aquisition of the PLDT Group to GMA Network. (CLICK HERE)
The news sparked from Ruffa's tweet regarding MVP's new acquisition spree and was intensified by PEP's posts on the web's scoopbox indicating the details of the news.
Below is GMA's disclosure:
There is no truth to the rumor going around in social media sites and the internet that Mr. Manny Pangilinan has bought GMA Network. In fact, there is even no negotiation going on between GMA and Mr. Pangilinan regarding the latter's acquisition of GMA-7.