MANILA -- Shares in the Philippines' largest telecommunications company, PLDT, plunged nearly 20% on Monday after it revealed a massive "budget overrun" late last week and said it was revamping its management in the wake of the discovery.
Telecommunication
Philippines' PLDT shares plunge 19% amid $867m 'budget overrun'
Nation's top telco says it is revamping management following discovery
PLDT has deployed record capex in recent years as it pushes to upgrade its network, including internet fiber and 5G rollouts. (Source image from PLDT Facebook page)
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