Go to court?
Certainly, there would be no free switch of possession of belongings from Liberty Telecoms to BelTel. Otherwise, the general public stockholders of Liberty Telecoms would have a justifiable cause to are seeking for the intervention of regulatory government. They ought to query the loss of the price of their holdings in Liberty Telecoms.
The final choice that remains for the general public stockholders of Liberty Telecoms to take is to go to courtroom. However, who among them will initiate a felony warfare in opposition to Globe Telecom and PLDT? Suing them could be like pitting David in opposition to two marketplace Goliaths. Besides, this will entail legal professionals’ expenses.
What then ought to the general public do? Wait for the stock alternate to delist Liberty Telecoms?
A greater appreciative Securities and Exchange Commission should have helped the public in opposition to PLDT and Globe Telecom. But it must be recalled how SEC chairperson, Teresita Herbosa, even defied the Supreme Court that ordered her to penalize PLDT as a result for violating the 60:40 percentage ownership law in want of Filipinos.
Instead of punishing PLDT for defying the provision of the Constitution on ownership of telecom organizations, the SEC, led by means of chairperson Herbosa, allowed the Indonesian-controlled First Pacific Co. Ltd. To difficulty 150 million voting preferred shares to dilute foreigners’ possession control to legally allowable stage.
Certainly, there would be no free switch of possession of belongings from Liberty Telecoms to BelTel. Otherwise, the general public stockholders of Liberty Telecoms would have a justifiable cause to are seeking for the intervention of regulatory government. They ought to query the loss of the price of their holdings in Liberty Telecoms.
The final choice that remains for the general public stockholders of Liberty Telecoms to take is to go to courtroom. However, who among them will initiate a felony warfare in opposition to Globe Telecom and PLDT? Suing them could be like pitting David in opposition to two marketplace Goliaths. Besides, this will entail legal professionals’ expenses.
What then ought to the general public do? Wait for the stock alternate to delist Liberty Telecoms?
A greater appreciative Securities and Exchange Commission should have helped the public in opposition to PLDT and Globe Telecom. But it must be recalled how SEC chairperson, Teresita Herbosa, even defied the Supreme Court that ordered her to penalize PLDT as a result for violating the 60:40 percentage ownership law in want of Filipinos.
Instead of punishing PLDT for defying the provision of the Constitution on ownership of telecom organizations, the SEC, led by means of chairperson Herbosa, allowed the Indonesian-controlled First Pacific Co. Ltd. To difficulty 150 million voting preferred shares to dilute foreigners’ possession control to legally allowable stage.
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