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Philippine bourse halts trading of ABS-CBN after broadcaster's shutdown

Published 05/06/2020, 09:51 AM
Updated 05/06/2020, 10:00 AM
ABS
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MANILA, May 6 (Reuters) - Philippines' ABS-CBN Corp ABS.PS
and ABS-CBN Holdings Corp ABSOF.PK shares were suspended from
trading on Wednesday after the telecoms regulator ordered it to
shut down its operations, the stock exchange said.
The media conglomerate went off air on Tuesday night,
complying with telecoms regulator's order as a parliament
dominated by President Rodrigo Duterte's allies have yet to
renew the network's license. In a notice, the Philippine Stock Exchange said the trading
suspension would be lifted on Thursday, allowing investors to
digest the news. The license of the country's top broadcaster
expired on May 4.

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