PhilWeb and WEB [link] announced on Oct. 9, 2025 that its principal shareholder, Gregorio Araneta Inc., has agreed to sell its controlling 57% stake to two domestic holding firms for a total of P1.8 billion, or P2.17 per share. In a disclosure, WEB said the deal covers 829.6 million common shares to be acquired by Nexora Holdings Inc.-led by WEB president Edgar Brian Ng-and Velora Holdings Inc. The announcement prompted a one-hour trading halt on WEB shares, with the company noting that the transaction, which will trigger a mandatory tender offer to all remaining shareholders, could affect its public float and raise its foreign ownership level from 4.90% to 40%.
MB bottom-line: I’m not sure what to make of WEB, and I don’t think this transaction has changed much. Mr. Ng has paid the iron price to acquire the company that employs him, and Greggy ‘Scarf Guy’ Araneta gets to ride off into the sunset with a big payout. I don’t understand why Durterte went so far out of his way to mess with WEB in the first place, and that uncertainty is already disqualifying (for me) from a long-term investor’s perspective. Maybe there’s a lot of potential here, maybe Mr. Ng will backdoor in something interesting, or maybe WEB’s just going to float on doing a whole pile of not much just as it has since Mr. Araneta pocketed it after the Duterte smash-and-grab.