Business website Bilyonaryo on Wednesday reported that Uy “appears to be on the exit path” after his Udenna Corp saw its stake in DITO CME reduced from 58.5 percent to 9.8 percent.
Watch more News on iWantTFC But in a statement, DITO CME also denied that Uy’s Udenna Corp had sold most of its shares in the telco holding firm. The holding company said as of the end of September, Summit Telco Corp owned 9.79 percent and Xterra Ventures Pte Ltd owned 3.76 percent of DITO CME. “As mentioned above, Udenna continues to hold majority shareholdings DITO CME. If Udenna has any plans to divest, the necessary disclosures will be made at the appropriate time in accordance with the disclosure rules,” the company said.
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