Shares in Philippines’ new telecom firm surge after Duterte threatens rivals – ZAWYA

Shares in Philippines’ new telecom firm surge after Duterte threatens rivals – ZAWYA

shares in philippines' new telecom firm surge after duterte threatens rivals firms related to china-backed telco surge    a logo of philippine long distance telephone company (pldt) is seen in front of their building in makati city, metro manila, philippines may 30, 2016.manila - shares in top philippine telecom firms pldt inc and globe telecom inc fell on tuesday after a threat by president rodrigo duterte to shut them down, while firms run by a telecom newcomer with ties to the president soared.duterte during his state of the nation address on monday threatened closure or government takeover of duopoly globe and pldt for what he called "lousy service", which he did not elaborate on.pldt fell 3.6% and globe dropped 3.4%. both companies are controlled by businessmen whom duterte has publicly lambasted.duterte during his state of the nation address on monday threatened closure or government takeover of duopoly globe and pldt for what he called "lousy service", which he did not elaborate on.manila - shares in top philippine telecom firms pldt inc and globe telecom inc fell on tuesday after a threat by president rodrigo duterte to shut them down, while firms run by a telecom newcomer with ties to the