Ang hopes to close deal with GMA in 30 days

MANILA, Philippines - Businessman Ramon S. Ang hopes to strike a deal with majority shareholders of GMA Network Inc. within the next 30 days to acquire a stake in the listed broadcast company.

Ang said in an interview with The STAR that parties involved in the talks are just ironing out remaining issues such as the Congressional franchise. 

“Within 30 days,” Ang replied when asked about the completion of the negotiations.

When pressed for details including the possible acquisition of a 30 percent interest in GMA, Ang said details would be revealed after the signing of the shareholders’ agreement.

Last May 5, Ang and GMA chairman Felipe Gozon confirmed talks are ongoing for a possible acquisition of a stake in the listed broadcasting company.

Gozon said the company’s shareholders are in talks with Ang after negotiations with businessman Manuel V. Pangilinan’s dominant carrier Philippine Long Distance Telephone Co. (PLDT) bogged down anew.

“We are talking. I can not disclose any details because as I said our discussions are covered by a confidentiality agreement,” Gozon told reporters but refused to divulge more details.

Gozon said he is confident that the talks which started early this year would be concluded soon.

“I don’t really know why Mr. (Ramon) Ang is very, very interested in buying into GMA,” he added.

Ang has reportedly bought a stake in Solar Entertainment Inc. of businessman Wilson Tieng.

Pangilinan said last May 4 that the PLDT Group was not keen on reviving talks with GMA that collapsed anew after its offer to buy a minority stake in the company owned by the Gozon, Duavit, and Jimenez families expired early last February.