SKY Cable announced that the sale of its internet broadband business to telco giant PLDT was canceled. This unexpected development occurred following the approval of all regulatory requirements and the announcement of Sky to end cable TV operations.
There has been a change in Sky Cable's notification to its subscribers, which stated that their cable television service will continue to be operational. Although no reason was provided for the cancellation of this nearly finalized agreement, both parties asserted that this was a mutually agreed-upon matter.
Here's the official statement released by ABS-CBN, Sky Cable's parent company, regarding the matter:
ABS-CBN Corporation and PLDT have mutually decided not to proceed with the sale of Sky Cable to PLDT under the Sale and Purchase Agreement signed by and among the parties in March 2023. Following this development, Sky Cable is pleased to announce that its cable TV service will continue, assuring its subscribers that they can maintain their subscriptions. Meanwhile, Sky's internet broadband service, SKYFiber remains unaffected. We thank all our Sky subscribers for their continued patronage and support. We remain committed to providing the same level of customer experience and service for both our cable and internet services.
For inquiries and concerns, Sky Cable said its subscribers can contact them through its messaging platform KYLA or through the SKY website (https://ift.tt/FAaSLHK).
On the other hand, SKYBIZ, SKY's business-oriented arm, also posted an advisory on its website (https://ift.tt/GK5ybiM) on February 22, 2024:
ABS-CBN Corporation and PLDT have mutually decided not to proceed with the sale of SKY to PLDT under the Sale and Purchase Agreement signed by and among the parties in March 2023. Following this development, SKYBIZ is pleased to announce that its cable TV service will continue beyond February 26, 2024, assuring its subscribers that they can maintain their subscriptions. Meanwhile, SKYBIZ Broadband remains unaffected. We thank all our SKYBIZ subscribers for their continued patronage and support. We remain committed to providing the same level of customer experience and service for both our cable and internet services.
For inquiries and concerns, SKYBIZ said its customers can reach out to their assigned Account Manager or call them at (02) 3226-3900 or send an email to skybizhelpdesk@skycable.com.
To recall, in March 2023, PLDT, the Manny V. Pangilinan-led company, announced its intention to acquire the broadband business of SKY Cable for PHP 6.75 billion. This includes the purchase of approximately 1.37 billion shares at PHP 4.9043 apiece.
PLDT cited that the acquisition would benefit broadband subscribers of the two telecommunication companies, because it will expand the coverage of their offerings and services, especially in remote locations.
Image via SKY/Facebook
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