'Use of PDRs by companies not tantamount to yielding ownership'

Friday, 14 February 2020
'Use of PDRs by companies not tantamount to yielding ownership' | Red Mother
Issuing Philippine Depositary Receipts (PDRs) does not mean yielding ownership to foreign entities, Senator Sherwin Gatchalian said Thursday. The use of PDRs of ABS-CBN network was one of the grounds cited by Solicitor General Jose Calida in his quo warranto petition seeking to revoke the network's franchise. The petition said issuing PDRs to foreigners for a fee violates the constitutional ban on foreign ownership. ABS-CBN has maintained that...
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