Philippine Long Distance Telephone Company (TEL) was incorporated on November 28, 1928 following the merger of four telephone companies under US ownership, namely, Philippine Telephone and Telegraph Company, Cebu Telephone and Telegraph Company, Panay Telephone and Telegraph Company, and Negros Telephone and Telegraph Company. In 1967, effective control of TEL was sold by General Telephone and Electronics Corporation to a group of Filipino businessmen. TEL is a telecommunications service provider in the Philippines. Through its three principal business groups - wireless, fixed line, and information and communications technology - TEL offers a wide and diversified range of telecommunications services across the Philippines' most extensive fiber optic backbone and wireless, fixed line and satellite networks. TEL's subsidiaries and affiliates include Smart Communications, Inc. and Pilipino Telephone Corporation, both cellular service providers, and ePLDT, an integrated information and communications technology provider. Source: SEC Form 17-A (2008)