Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

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
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.