PLDT

In 1928, the Philippine government took action to connect its islands, which were served by fragmented and isolated telephone systems. Through an act of the legislature, four telephone companies under the American firm GTE were merged to create the Philippine Long Distance Telephone Company, or PLDT. The new entity was granted a 50-year franchise to build a unified national network. Its first president was Theodore Vail Halsey, with Major J.E. Hamilton Stevenot as executive vice president. A pivotal moment came in 1967 when a group of Filipino entrepreneurs led by Ramon Cojuangco acquired control from GTE, marking a new era of national leadership for the company. This transition led to significant expansion, aiming to bring telephone services to more rural areas. Decades later, another major shift occurred in 1998 when Hong Kong-based First Pacific Company, led by Manuel V. Pangilinan, acquired a controlling stake. This was followed by a strategic partnership with Japan's NTT Communications and the acquisition of Smart Communications, which became a key player in the country's mobile sector. The company went public on the NYSE on September 17, 1953. Throughout its history, PLDT navigated monumental challenges, including the destruction of its infrastructure during World War II and its subsequent reconstruction. In 2016, the company officially changed its name to PLDT Inc., reflecting its evolution from a long-distance telephone provider to a diversified digital services company. Through strategic acquisitions, including Digitel (Sun Cellular) in 2011, PLDT solidified its market position, continuing to build the digital backbone of the Philippines.