MANILA, Philippines--(BUSINESS WIRE)--On July 29, 2016, Philippine Long Distance Telephone Company (NYSE:PHI) changed its corporate name to PLDT Inc. (NYSE:PHI) pursuant to a filing with the Securities and Exchange Commission of the Republic of the Philippines. The change of corporate name was made pursuant to approval by the board of directors of the company on April 12, 2016, and a shareholder vote on June 14, 2016.
The name Philippine Long Distance Telephone Company reflects the traditional fixed line telecommunications business that the company engaged in for several years following its incorporation in 1928. However, the company’s business has evolved such that its revenues are no longer mainly derived from its long distance toll revenue business but are now largely from its expanded business portfolio that includes wireless telecommunications, data, broadband and information technology services, and other related value added services.