The Philippine Stock Exchange will resolve all issues involving Liberty Telecoms Holding Inc. including questions on non-disclosure and valuation issues before it decides on delisting the company, an official said Wednesday.
PSE chief operating officer Roel Refran said in an interview at the sidelines of a forum in Makati City the issues being raised against minority shareholders of Liberty “demand immediate resolution.”
“The regulatory action would have to precede if and when delisting happens because our jurisdiction ends when the company is eventually delisted,” Refran said.
“The closure has to happen before the end of process for delisting because that is their application,” he said.
Refran said PSE was still in the process of getting responses from the parties and evaluating these responses regarding the issues raised by minority shareholders.
PSE said it would also align the review process involving Liberty along with that conducted by the Securities and Exchange Commission.
“While there are independent issues involved, we could probably tie them all up and make sure that there is resolution in the questions,” Refran said.
“But we [PSE[ can also pursue our own regulation action based on our findings,” he said.
Minority shareholders of Liberty reportedly asked PSE and SEC to look into the Liberty deal. Minority shareholders asked how the telecom firm was valued.
