Cignal Cable Corporation cancelled the acquisition of 38.88% stake in SKY Cable Corporation from ABS-CBN Corporation, Sky Vision Corp. and Lopez, Inc. for PHP 2.862 billion.

Cignal Cable Corporation agreed to acquire 38.88% stake in SKY Cable Corporation from ABS-CBN Corporation (PSE:ABS), Sky Vision Corp. and Lopez, Inc. for PHP 2.862 billion on August 10, 2022. The Board of Directors of ABS-CBN Corporation approved today the sale of SKY Cable Corporation. The closing of the transactions, which is expected within the month of August 2022. Alphaprimus Advisors Inc. acted as financial advisor and Picazo Buyco Tan Fider & Santos acted as legal advisor to MediaQuest group. Romulo Mabanta Buenaventura Sayoc & De los Angeles and Quiason Makalintal Barot Torres & Ibarra acted as legal advisors to ABS-CBN.

Cignal Cable Corporation cancelled the acquisition of 38.88% stake in SKY Cable Corporation from ABS-CBN Corporation (PSE:ABS), Sky Vision Corp. and Lopez, Inc. for PHP 2.862 billion on August 31, 2022.