Dennis Uy Statement :“Let me be clear, we have NO intention to acquire ABS-CBN”.


Dennis Uy, chairman and CEO of Udenna Corporation, has spoken up about his company’s reported plans to acquire ABS-CBN.

In light of the suspension of the media giants broadcasting franchise there are rumors that Uy’s Udenna Communications Media and Entertainment Holdings Corp, which expands his business to the media and entertainment sector is planing to acquire ABS-CBN.

In a statement Uy said.“Being in the business of broadcasting is not part of our corporate direction,” Uy said.

“Mataas ang respeto ko sa nagawa at patuloy na ginagawa ng ABS-CBN.” The company released the official statement yesterday.

acquire ABS-CBN

The businessman has close ties with the President and last year he bids to become the third major telco player was approved by the government.

In an earlier statement, Newly appointed Dito CME Holdings chief operating officer Donald Lim, who is a former ABS-CBN executive, said the group has its sights set on the digital space. More..

Dito CME Holding Chairman is Dennis Uy, the company is listed in the Philippine Stock Exchange(PSE) as $DITO.

Updated: May 11, 2020, Stockbytes! PH

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acquire abs-cbn