PLDT Inc. said Thursday it is acquiring a 65.1-percent stake in Radius Telecoms Inc. from Paragon Vertical Corp. for P2.94 billion to take full control of the fiber provider.
The transaction involves the purchase of 4.65 million common shares at P632.53 per share. PLDT, which holds a 34.9-percent stake in Radius, will settle the deal in cash. The company will pay 60 percent upon closing and the remaining 40 percent within 10 months. Once the deal is finalized, Radius will operate as a wholly owned subsidiary of PLDT.
The acquisition allows PLDT to integrate Radius’ fiber facilities which serve enterprise buildings, residential multi-dwelling units, and villages. While Radius holds a congressional franchise for domestic and international services, the deal still requires regulatory approvals from the Philippine Competition Commission and the National Telecommunications Commission.
PLDT said the acquisition is not expected to have an adverse effect on its business, financial condition or operations. PLDT reported a slight decline in first-quarter net income for 2026 to P8.86 billion from P9.02 billion in the same period last year on rising operational expenses.
Despite the dip in net profit, PLDT’s core income rose 2 percent to P9.09 billion, supported by contributions from Maya and gains from asset sales. Total revenues for the quarter reached P56.51 billion, up from P55.27 billion a year ago.
“We are moving in the right direction,” PLDT and Smart chairman and chief executive Manuel Pangilinan said.
“The fundamentals are sound, and the momentum is there, but our team is capable of more. We expect more of ourselves, and we intend to deliver,” he said.
Performance across segments was mixed. The enterprise business grew 4 percent to P12.4 billion, while PLDT Home maintained flat fiber revenues of P14.7 billion.
The wireless consumer segment saw a slight decline to P21 billion as an ongoing crisis restricted mobility and consumer spending.
The company set its 2026 capital expenditure in the mid-P50 billion range, spending P10 billion in the first three months. As of March 2026, the group’s fiber network spanned 1.29 million cable kilometers.
