PLDT's MVP in talks with GMA-7 Acquisition

Business Tycoon Manuel V. Pangilinan is reportedly in talks with the major stockholders of media giant GMA Network into a deal of acquisition. MVP would like to acquire a controlling stake of the network. The Acquisition cost will still likely be negotiated. GMA Network's current market value is priced at P 30 billion. MVP reportedly is willing to acquire 80% controlling stake of the network for a price range between P 55 billion to P60 billion. In 2001, MVP first offered to acquire GMA Network but it did not transpired. In 2010, MVP Acquired majority controlling stake of Associated Broadcsting Company now known as TV5.