PSE halts trading of ABS-CBN after broadcaster’s shutdown

Published May 6, 2020, 12:00 AM

by manilabulletin_admin

By Reuters

ABS-CBN Corp and ABS-CBN Holdings Corp shares were suspended from trading on Wednesday after the telecoms regulator ordered it to shut down its operations, the stock exchange said.

Security guards stand outside the headquarters of ABS-CBN network following government orders to cease its operations, in Quezon City. (REUTERS / ELOISA LOPEZ / MANILA BULLETIN)
Security guards stand outside the headquarters of ABS-CBN network following government orders to cease its operations, in Quezon City. (REUTERS / ELOISA LOPEZ / MANILA BULLETIN)

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.

Read more: NTC orders ABS-CBN to stop operations

 
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