Sky Cable For Sale, Bidding Between David Uy, Ayalas, David Anthony Uy

Lopezes Put Sky Cable Up For Sale Following ABS-CBN Franchise Denial

SKY CABLE FOR SALE – The Lopez family will reportedly put Sky Cable up for bidding in the next weeks or days.

According to a report from Bilyonaryo, there were three highly influential and powerful businessmen who want to buy Sky Cable. These businessmen were nonother than “Dennis Anthony Uy”, “Dennis Uy”, and the Ayala group.

The Lopezes own 60 percent of Sky Vision, Sky Cable’s holding firm. Sadly, the company had to drastically lower its workforce following its franchise denial. Along with this ABS-CBN discontinued several programs and closed down businesses in order to survive.

Sky Cable For Sale, Bidding Between David Uy, Ayalas, David Anthony Uy

Dennis Anthony Uy is the CEO of the popular internet service provider, Converge ICT Solutions. As per the report, Uy was said to have offered $726 million as an initial public offering in October.

Meanwhile, David Uy is one of President Rodrigo Duterte’s close confidants. He is the chairman of the new major player in the Philippine telco. industry – DITO Telecommunity.

Along with this, the Ayala Group also wanted to expand its business and saw Sky Cable as a welcome investment. The Ayalas have a diverse array of businesses ranging from real estate to retail. Furthermore, they also own the biggest phone company in the Philippines, Globe Telecom.

Sky Cable used to be the biggest cable provider in the Philippines before Cignal. Currently, Sky Cable has 500,000 subscribers for their cable service, 300,000 for broadband, and 1.5 million for DTH satellite. But, the National Telecommunications Commission ordered the seizure of their services due to a lack of franchise.

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