G.R. No. 176579 - Gamboa vs. Teves

Gamboa vs. Teves

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Title Supreme Court: Gamboa vs. Teves

Case: G.R. No. 176579

Decision Date: Jun 28, 2011

A PLDT stockholder challenged the sale of PTIC shares to First Pacific, alleging it violated the 40% foreign ownership limit in public utilities. The Supreme Court ruled "capital" refers only to common shares, excluding non-voting preferred shares, and emphasized national interest in maintaining Filipino control.

sale of shares

public utility company

foreign ownership

Marathon 2 hr 31 min

END