News Archive

I.S.M. completes buy of P.B.COM
Manila Bulletin, July 28, 2011

ISM Communications Corp. said it leads a group of investors that signed an agreement to buy 97.28 percent of Philippine Bank of Communications’ outstanding capital for P4.68 billion.   The shares will be purchased from the Chung, Luy and Nubla groups and the transaction is subject to regulatory approvals, ISM said in a disclosure to  read more…

Ongpin seals PBCom sale
Roderick T. dela Cruz, Manila Standard Today, July 28, 2011

Former Trade minister Roberto Ongpin has been elected chairman of the board of Philippine Bank of Communications, after his ISM Communications Corp. formalized the acquisition of a 97.28-percent stake in the bank for P4.681 billion. PBCom disclosed Wednesday that the three major shareholders of PBCom—the Chung, Luy and Nubla groups—signed an agreement with ISM to  read more…

Ongpin firm acquires PBCom
Malaya, July 28, 2011

ISM Communications Corp. has signed a memorandum of agreement with three major shareholders of Philippine Bank of Communications (PBCom) for the purchase of 97 percent of the bank’s equity for P4.681 billion.   Rodolfo Ma. A. Ponferrada, ISM corporate information officer, said ISM signed the deal with the Luy Group, the Chung Group and the  read more…

ISM seals takeover deal with PBCom shareholders
Ted P. Torres, The Philippine Star, July 28, 2011

MANILA, Philippines – Ongpin-led ISM Communications Corp. has sealed an agreement to take over the mid-sized Philippine Bank of Communications (PBCom) from the three major shareholder groups for P4.681 billion.   In a disclosure to the Philippine Stock Exchange, PBCom corporate information officer Bernard Lopez said ISM, a publicly-listed IT and gaming firm, signed on  read more…

Ongpin group completes acquisition of PBCom
Krista Angela M. Montealegre, The Manila Times, July 28, 2011

A GROUP led by former Trade Minister Roberto Ongpinon Wednesday said it has completed the acquisitiøn of majority shares in Philippine Bank of Communications (PBCom.).   In a disclosure to the Philippine Stock Exchange (PSE), ISM Communications Corp. said the three major shareholders of PBCom—the Chung, Luy and Nubla families—had signed the memorandum of agreement  read more…

Due Diligencer
Emeterio Sd. Perez, Business Mirror, July 27, 2011

BUYBACK. As of December  31, 2010, Ayala Corp. (AC) had already spent P4.832 billion in buying back 12.833 million common shares, or P376.783 per share. The Zobel de Ayala’s holdings company continues buying back its own shares. As of July 26, it has reacquired more than 16.981 million shares, which means in more than six  read more…

Ongpin’S ISM seals PBCom acquisition
ABS-CBNnews.com, July 27, 2011

MANILA, Philippines – ISM Communications Corp., led by former trade minister Roberto Ongpin, has signed an agreement to acquire Philippine Bank of Communications (PBCom), marking its entry into the banking industry.   Under the agreement, ISM will acquire 97.28% of PBCom from three major bank shareholders — the Chung, Luy and Nubla families — for  read more…

ISM takes control of PBCom
BusinessWorld, July 27, 2011

THE MAJORITY owners of the Philippine Bank of Communications (PBCom) on Tuesday finalized the sale of their stake in the bank to a group led by ISM Communications Corp. of former trade minister Roberto V. Ongpin.   In separate disclosures to the stock exchange yesterday, PBCom and ISM said the Chung, Luy and Nubla families  read more…

Ongpin bloc takes over PBCom in 4.7B deal
Doris C. Dumlao, Philippine Daily Inquirer, July 27, 2011

MANILA, Philippines—A group led by former Trade Minister Roberto V. Ongpin has sealed the acquisition of a 97.28-percent stake in Philippine Bank of Communications for P4.68 billion, gaining a foothold in the competitive local banking arena.   In a disclosure to the Philippine Stock Exchange, Ongpin’s ISM Communications Corp. said the three major shareholders of  read more…