TCS sells PDS Holdings stake to Philippine Stock Exchange for $3m

Philippines Stock Exchange. Photo: Reuters

Tata Consultancy Services Asia-Pacific (TCS), an IT consulting services firm, has agreed to sell its 8 per cent stake in Philippine Dealing System Holdings Corporation (PDS Holdings) to the Philippine Stock Exchange (PSE) for P152.114 million ($3 million), the PSE said in a disclosure on Wednesday.

The acquisition of the 500,000 common shares of stock of TCS in PDS Holdings gives PSE a total of 69.03 percent ownership in the fixed-income exchange operator.

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