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James Go grabs P19.7 million PLDT shares

Bilyonaryo James Go joined the bargain hunting of PLDT Inc. (TEL) shares a week after its bombshell report on P48 billion overspending. The TEL director bought 15,000 shares at P1,3812 each on December 28.

TEL dropped to a low P1,187 on December 19 after disclosing at the close of trading hours on December 16 that it was investigating the estimated P48 billion overrun in capital expenditures from 2019 to 2022.

It has bounced back to P1,424 as of January 5, just short of its pre-bombshell price of P1,478 on December 16. Go’s total TEL holdings are currently worth P1.354 billion, the biggest among directors and officers of the telco giant. His family’s JG Summit owns 11.27 percent of TEL