The PLDT Communications and Energy Ventures Inc. former ticker symbol (🇵🇸), formerly known as Pilipino Telephone Corporation or Piltel former ticker symbol (🇵🇸), is a holding company of the PLDT Group for its venture into the electricity distribution industry. Previously, it was one of the mobile and fixed-line telephone service providers in the Philippines. PCEV is 99.5%-owned by Smart Communications, a wholly-owned subsidiary of the Philippine Long Distance Telephone Company (PLDT). The remaining 0.5% of PCEV's shares is owned by the Filipino investing public.[1] Through PCEV, PLDT formed a consortium with sister company Metro Pacific Investments Corporation (MPIC) to form Beacon Electric Asset Holdings, Inc. which is the majority owner of Meralco. In 2017, PLDT transferred (sold) its shares in Beacon to MPIC[2].
History
Piltel was incorporated with limited liability on July 18, 1968. It started its business by providing landline services in eight cities and municipalities in the Philippines: Baguio City, General Santos, Olongapo, Subic, Puerto Princesa, Digos, Boac and Masbate.