{"id":21020,"date":"2014-08-08T21:08:35","date_gmt":"2014-08-08T13:08:35","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=21020"},"modified":"2014-08-08T21:08:35","modified_gmt":"2014-08-08T13:08:35","slug":"pldt-invests-445-m-in-rocket-internet-to-drive-online-mobile-solutions","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/08\/08\/pldt-invests-445-m-in-rocket-internet-to-drive-online-mobile-solutions\/","title":{"rendered":"PLDT invests $445-M in Rocket Internet to drive online, mobile solutions"},"content":{"rendered":"<p><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PLDT.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-21241\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PLDT.jpg\" alt=\"PLDT\" width=\"468\" height=\"351\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PLDT.jpg 468w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/08\/PLDT-300x225.jpg 300w\" sizes=\"auto, (max-width: 468px) 100vw, 468px\" \/><\/a><\/p>\n<p>MANILA &#8212; The Philippine Long Distance Telephone Company (PLDT) announced Thursday its move to buy a 10 per cent stake in German firm, Rocket Internet for 333 million euros (US $ 445 million).<\/p>\n<p>During a press conference, PLDT president and CEO Napoleon L. Nazareno said the partnership between the two companies would help drive the development of online and mobile payment solutions in emerging markets.<\/p>\n<p>The partnership will enhance PLDT&#8217;s experience and intellectual property in mobile payments and remittance platforms with Rocket&#8217;s global technology platform.<\/p>\n<p>PLDT&#8217;s investment in Rocket will be in new shares issued by the company, of the same class and bearing the same rights as shares held by current investors.<\/p>\n<p>It will also hold the right to appoint one member of Rocket&#8217;s nine-person Supervisory Board and fund the investment from available cash and new debt, with no significant impact on PLDT&#8217;s leverage ratios and funding costs.<\/p>\n<p>With the promising partnership with Rocket, Nazareno said that PLDT\u2019s investment demonstrates synergies between e-Commerce and mobile payments in developing economies.<\/p>\n<p>\u201cThe strategic partnership will allow us to leverage our combined strengths,\u201d Nazareno said. \u201cWe expect the partnership to have a pronounced positive impact on our organization,\u201d<\/p>\n<p>He further said that Rocket has developed a unique platform for establishing new Internet companies and a proven track record in successfully rolling out businesses in fast growing markets.<\/p>\n<p>For his part, PLDT Chairman Manuel V. Pangilinan, meanwhile, vowed to continue to pursue further digital partnerships as one of the company\u2019s key strategic initiatives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; The Philippine Long Distance Telephone Company (PLDT) announced Thursday its move to buy a 10 per cent stake &hellip;<\/p>\n","protected":false},"author":44,"featured_media":21241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,95,5],"tags":[],"class_list":["post-21020","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-news-ph","category-technology","mauthors-azer-n-parrocha","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/21020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=21020"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/21020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/21241"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=21020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=21020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=21020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}