Deals
PLDT Rises to 5-Year High After Outsourcing Sale: Manila Mover
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Philippine Long Distance Telephone Co., the nation’s biggest company by market value, rose to the highest in about five years after agreeing to sell a controlling stake in its outsourcing unit to CVC Capital Partners Ltd.
The telecommunications company climbed 1.1 percent to 2,912 pesos at the close of trading, the highest since Feb. 21, 2008. The carrier has jumped 15 percent this year, boosting its market value to $15.5 billion, according to data compiled by Bloomberg.