A regulatory filing on Tuesday showed that Udenna Corp. sold 210 million shares in DITO CME Holdings Corp., the parent firm of DITO Telecommunity, on April 27 for about P200 million.
This reduced its stake to roughly 48.8 percent from just over 49 percent.
Udenna is the private holding company of Davao-based tycoon Dennis A. Uy, whose group established DITO Telecommunity as the country’s third major telco provider with strategic partner China Telecom in the midst of the COVID-19 pandemic.
Even with the share disposals, Uy retains control of DITO CME, but that could change if a foreign group moves to acquire the company.
Rumors surfaced last week that a new investor group had signaled its willingness to infuse up to $1 billion into DITO over a year, which could result in a change in ownership.
The group was said to be different from Summit Telco Group, which owns about a fifth of DITO CME.
DITO CME has been seeking additional equity to boost capital, given significant capital spending requirements as it works toward turning profitable by the end of 2028.
Since its launch, the telco network had successfully achieved its nationwide speed and network coverage requirements.
As of last September, DITO had grown its users to 15 million subscribers nationwide, a significant presence but still far behind industry giants Globe and Smart.
DITO shares have surged over 40 percent this year, recently closing at P0.97 each after touching a recent high of P1.09 apiece.
According to Philippine Stock Exchange data, Udenna had disposed of its DITO shares between P0.95 and P0.97 per share on April 27, 2026.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
