SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6 -K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated March 11, 2003
(Commission File No. 1-15024)
PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
(Name of Registrant)
Ramon Cojuangco Building
Makati Avenue, Makati City
Philippines 0721
(Address of Principal Executive Officers)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F: y Form 40-F: o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
Yes: o No: y
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation by Regulation S-T Rule 101 (b) (7):
Yes: o No: y
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes: o No: y
Enclosure:
A copy of the press release which we filed today with the Philippine Stock Exchange and the Securities and Exchange Commission in reaction to United States Federal Communications Commission’s decision to require U.S. carriers to stop payment to all Philippine telecommunications companies for calls sent from the United States as requested by AT&T and MCI WorldCom.
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11 March 2003 |
SECURITY CODE: CM-040 |
The Philippine Stock Exchange
Disclosure Department
4th Floor PSE Centre
Exchange Road, Ortigas Center
Pasig City
Attention: Mr. Jose G. Cervantes
Senior Vice President
Ladies and Gentlemen:
Enclosed is a copy of a Current Report under Section 17 of the Securities Regulation Code (“SRC”) with a copy of a press release, in reaction to United States Federal Communications Commission’s decision to require U.S. carriers to stop payment to all Philippine telecommunications companies for calls sent from the United States as requested by AT&T and MCI WorldCom.
Respectfully yours,
FLORENTINO D. MABASA, JR.
Assistant Corporate Secretary
FDM:amq
Encs.
11 March 2003
SECURITIES & EXCHANGE COMMISSION
Money Market Operations Department
SEC Building, EDSA
Mandaluyong City
Attention: Director Justina F. Callangan
Corporations Finance Department
Gentlemen:
Re : Philippine Long Distance Telephone Company
SEC Registration No. PW-55
In accordance with Section 17.1 (b) of the Securities Regulation Code, we submit herewith five (5) copies of a Current Report with a copy of a press release, in reaction to United States Federal Communications Commission’s decision to require U.S. carriers to stop payment to all Philippine telecommunications companies for calls sent from the United States as requested by AT&T and MCI WorldCom.
Respectfully yours,
FLORENTINO D. MABASA, JR.
Assistant Corporate Secretary
FDM:amq
Encs.
SECURITIES AND EXCHANGE COMMISSION
CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE (“SRC”)
1. 11 March 2003
(Date of earliest event reported)
2. SEC Identification Number PW-55
3. BIR Tax Identification No. 000-488-793
4. PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
Exact name of registrant as specified in its charter
5. PHILIPPINES 6. _____________ (SEC Use Only)
Province, country or other jurisdiction Industry Classification Code
of Incorporation
7. Ramon Cojuangco Building, Makati Avenue, Makati City 1200
Address of principal office Postal Code
8. (632) 814-3664
Registrant's telephone number, including area code
9. Not Applicable
Former name or former address, if changed since last report
10. Securities registered pursuant to Sections 8 and 12 of the SRC
Title of Each Class Number of Shares of Common Stock
Licensed and Amount of Debt Outstanding
Attached hereto is a copy of PLDT’s press release, in reaction to United States Federal Communications Commission’s decision to require U.S. carriers to stop payment to all Philippine telecommunications companies for calls sent from the United States as requested by AT&T and MCI WorldCom.
SIGNATURE
Pursuant to the requirements of the Securities Regulation Code, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
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PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
FLORENTINO D. MABASA, JR. Assistant Corporate Secretary |
Date: 11 March 2003
Distribution Copies: 5 copies – Securities & Exchange Commission
1 copy - Philippine Stock Exchange
1 copy - Company Secretary
PLDT Press Statement in Reaction to US FCC Decision
MANILA, Philippines, March 11, 2003 – Philippine Long Distance Telephone Company (PLDT) management is extremely disappointed at the decision of the United States Federal Communications Commission (FCC) to require U.S. carriers to stop payment to all Philippine telecommunications companies for calls sent from the United States as requested by AT&T and MCI Worldcom. This act of intervention by the FCC overturns nearly 10 months of negotiations and discussions with U.S. carriers for new rates terminating on the PLDT Network, most of whom have already agreed with PLDT.
The decision by the FCC granting AT&T and MCI Worldcom’s request will be detrimental to the Philippines, its people, and its economy which AT&T and MCI Worldcom should be held responsible for.
“The US FCC, AT&T and MCI Worldcom should be held responsible for any disruption of calls originating from the US to the Philippines,” explained PLDT Management. “No company in its right mind, can continue to provide service knowing that it will not be paid.”
“Any complaints about service disruptions should be addressed to AT&T and MCI Worldcom who lobbied the FCC to have this stop payment order implemented,” PLDT Management added.
PLDT stands by the decision of the National Telecommunications Commission (NTC ) that “absent any provisional or interim arrangement or agreement, there would be termination of service between the parties..”
PLDT management also states that it shall abide by the Philippine NTC directive to “seek other routes or options to terminate traffic to the Philippines”, and remain open, as it has always been, to discussions with AT&T and MCI Worldcom for alternative routes and options that will allow traffic to flow.
PLDT management believes that its new rates, which are well below the benchmarks of both the FCC and the International Telecommunications Union, are fair and reasonable. The same rates have also been accepted by nearly 100 telecommunication companies worldwide, as well as the broad base of the market.
PLDT management reserves the right to take whatever action is necessary to protect its interests relative to the decision of the FCC. In the meantime, all existing bi-lateral agreements with other carriers will be honored.
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About PLDT
PLDT is the leading telecommunications provider in the Philippines. Through its three principal business groups – fixed line, wireless and information communications technology – PLDT offers a wide range of telecommunications services across the Philippines’ most extensive fiber optic backbone and fixed line, cellular and satellite network.
PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American depositary shares are listed on the New York Stock Exchange (NYSE:PHI) and the Pacific Exchange. PLDT has one of the largest market capitalizations among Philippine listed companies.
Further information can be obtained by visiting the web at www.pldt.com.ph.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant had duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
By: _______________________________
Name: FLORENTINO D. MABASA, JR.
Title : Assistant Corporate Secretary
Date: March 11, 2003