Everything comes from today's news:
Title: Greggy Araneta Exits PhilWeb with 1.8 Billion Pesos, 200 Million Less Than 2016 Ongpin Deal
Philippine President's relative Gregorio “Greggy” Araneta III has completely exited PhilWeb Corp. He sold his controlling stake to Nexora Holdings Inc. and Velora Holdings Inc. for 1.8 billion pesos.
According to the share transfer agreement, Gregorio Araneta Inc. (GAINC) will transfer its 57% shareholding (approximately 829.75 million shares) at a price of ₱2.17 per share.
It is rumored that the new owner is PLAY TIME.
An hour ago, Elvis, the founder of PLAY TIME, responded on LinkedIn:
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Unified Statement on PlayTime, NUSTAR, and PhilWeb
Recently, many friends have been concerned about the progress of PlayTime, NUSTAR, and PhilWeb. Here is a unified statement:
1️⃣ Am I the new owner of PhilWeb?
No. I am flattered to be asked this question, but PhilWeb, as the first publicly listed gaming company in the Philippines, is a well-known and historically significant enterprise, having gone through decades of ups and downs and restructuring under Ongpin and Greggy Araneta.
As far as I know, the new owner is a consortium.
I hope they can lead PhilWeb into a new era. As for myself, I may offer some business advice out of friendship.
2️⃣ Will PlayTime go public through a reverse takeover of PhilWeb? Will NUSTAR also be acquired?
No. PlayTime has no plans to go public, nor is it likely to go public through PhilWeb. NUSTAR also has no immediate plans to go public. I believe that DigiPlus will continue to be the industry leader in the foreseeable future in the Philippine market.
3️⃣ Views on future policies
The Philippine compliant market has been severely impacted after the shutdown of GLife / Maya mini-programs, shrinking by about 30%–35%, with many users moving to the illegal market.
I believe the government is aware of the situation. We also look forward to the introduction of new regulatory policies and believe that the government has realized that prohibition often backfires.
I hope future policies will promote the healthy development of the industry while protecting users and encouraging compliance.
4️⃣ Strategy of PlayTime and NUSTAR after losing GLife / Maya mini-programs
Honestly, the mini-programs were once the most cost-effective source of users for PlayTime and NUSTAR, and our business has indeed been affected.
During this period, we chose to focus on "internal cultivation". In an increasingly competitive environment, what can take us further is no longer short-term tricks, but a long-term focus on user experience and service quality as our core competitiveness.
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