The Business Mirror newspaper reports that Bayantel Telecommunications Inc (Bayan) settled PHP536 million (USD12.2 million) worth of debts last month, bringing to PHP7.274 billion the total debt made by the Lopez-controlled group since it underwent rehabilitation in July 2004. As part of its obligations under the plan, the telco pays interest on its debt every quarter.
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OVETEL Bayantel settles PHP536m in debt in December
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