Schedule 13D Amendment No. 5

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13D/A

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-(1)(a) AND AMENDMENTS THERETO FILED PURSUANT

TO RULE 13d-2(a)

(Amendment No. 5)1

 

 

 

Philippine Long Distance Telephone Company


(Name of Issuer)

 

Common Capital Stock, 5 Philippine Pesos par value


(Title of Class of Securities)

 

718252109


(CUSIP Number)

 

Jun Sawada

NTT Communications Corporation

1-6, Uchisaiwai-cho 1-chome

Chiyoda-ku, Tokyo 100-8019

Japan

(81-3) 6700-4601

with a copy to:

Robert W. Mullen, Jr., Esq.

Milbank, Tweed, Hadley & McCloy LLP

1 Chase Manhattan Plaza

New York, NY 10005

USA

Telephone: (212) 530-5150


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

June 27, 2007


(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box  ¨.

Note:   Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

1

 

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 718252109      

 

  1  

NAME OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

   
   

            NTT Communications Corporation

 

            No I.R.S. Identification

   
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
  (a)  x  
    (b)  ¨    
  3   SEC USE ONLY  
         
  4   SOURCE OF FUNDS  
                N/A    
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)   ¨
         
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
                JAPAN    
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
    7  SOLE VOTING POWER
 
                  -0-
    8  SHARED VOTING POWER
 
                  29,255,689
    9  SOLE DISPOSITIVE POWER
 
                  -0-
  10  SHARED DISPOSITIVE POWER
 
                  29,255,689
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
                29,255,689    
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES   ¨
         
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
                15.5%    
14   TYPE OF REPORTING PERSON  
                CO    

 


CUSIP No. 718252109      

 

  1  

NAME OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

   
   

            Nippon Telegraph and Telephone Corporation

 

            No I.R.S. Identification

   
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  
  (a)  x  
    (b)  ¨    
  3   SEC USE ONLY  
         
  4   SOURCE OF FUNDS  
                N/A    
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)   ¨
         
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
                JAPAN    
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
    7  SOLE VOTING POWER
 
                  -0-
    8  SHARED VOTING POWER
 
                  29,255,6891
    9  SOLE DISPOSITIVE POWER
 
                  -0-
  10  SHARED DISPOSITIVE POWER
 
                  29,255,689
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
                29,255,689    
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES   ¨
         
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
                15.5%    
14   TYPE OF REPORTING PERSON  
                HC, CO    

 

1

Nippon Telegraph and Telephone Corporation beneficially owns (i) 12,633,487 shares through NTT Communications Corporation, its wholly-owned subsidiary, and (ii) 16,622,202 shares through NTT DoCoMo, Inc., its majority-owned publicly-traded subsidiary.


This Amendment No. 5 (this “Amendment No. 5”) amends the Schedule 13D dated March 24, 2000 (the “Schedule 13D”), which was filed in paper format with the Securities and Exchange Commission (the “SEC”) on behalf of the Reporting Persons (as defined herein) and NTT-UK (as defined herein), relating to the Common Shares (as defined herein) of Philippine Long Distance Telephone Company, a corporation organized under the laws of the Philippines (the “Company” or “PLDT”), as amended by Amendment No. 1 dated December 11, 2002 (“Amendment No. 1”), by Amendment No. 2 dated January 31, 2006 (“Amendment No. 2”), by Amendment No. 3 dated March 14, 2006 (“Amendment No. 3”) and by Amendment No. 4 dated April 16, 2007 (“Amendment No. 4”). The purpose of this Amendment No. 5 is to reflect the acquisition of Common Shares of PLDT by NTT DoCoMo, Inc. (“DoCoMo”), a majority-owned subsidiary of Nippon Telegraph and Telephone Corporation (“NTT”), in open market purchases from April 17, 2007 through June 27, 2007. Unless specifically amended hereby, the disclosure in the Schedule 13D, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4, remains unchanged.

All capitalized terms used, but not defined, in this Amendment No. 5 are defined in Amendment No. 3. The summary descriptions (if any) contained herein of certain agreements and documents are qualified in their entirety by reference to the complete text of such agreements and documents filed as Exhibits to Amendment No. 3 or incorporated in Amendment No. 3 by reference.

Item 2. Identity and Background

Paragraphs (a) – (c) and (f) of Item 2 of the Schedule 13D, as amended, are hereby further amended by replacing Schedule A and Schedule B to Amendment No. 4 with Schedule A and Schedule B to this Amendment No. 5.

Item 3. Source and Amount of Funds or Other Consideration

Item 3 of Amendment No. 3, as amended by Amendment No. 4, is hereby further amended by adding the following:

April, May and June 2007 DoCoMo Open Market Purchases

From April 17, 2007 through June 27, 2007, DoCoMo made open market purchases of Common Shares through the Philippine Stock Exchange and American Depositary Shares representing Common Shares through the New York Stock Exchange. Through these open market purchases, DoCoMo has acquired 2,022,654 additional shares (including 844,194 shares represented by American Depositary Shares) (the “Second Additional DoCoMo PLDT Shares”) representing approximately 1.1% of the outstanding capital stock of PLDT. All of the funds used to pay for the Second Additional DoCoMo PLDT Shares were from DoCoMo’s available cash resources.

Item 4. Purpose of Transaction

Item 4 of Amendment No. 3, as amended by Amendment No. 4, is hereby further amended by adding the following paragraphs:

April, May and June 2007 DoCoMo Open Market Purchases

DoCoMo is acquiring the Second Additional DoCoMo PLDT Shares for the same purposes as those described in this Item 4 with respect to its acquisition of the DoCoMo PLDT Shares.

Upon the acquisition of the Second Additional DoCoMo PLDT Shares, DoCoMo will beneficially own, in the aggregate, approximately 15.5% of the voting power attached to the outstanding Common Shares.

Following the acquisition of the Second Additional DoCoMo PLDT Shares, if DoCoMo deems market and other conditions as favorable, or if it otherwise decides, DoCoMo may increase its ownership of the Company’s equity securities through open market purchases, negotiated purchases, or other transactions, up to the limitation of 21% of the Common Shares issued and outstanding as described in this Item 4. However, if DoCoMo does not deem market and other conditions as favorable or if it otherwise decides, it may not do so.


Item 5. Interest in Securities of the Issuer

Paragraphs (a), (b) and (c) of Item 5 of Amendment No.3, as amended by Amendment No. 4, are hereby further amended and restated as follows:

(a) By virtue of NTT’s ownership of all of the outstanding capital stock of NTT Communications Corporation (“NTTC”) and a majority of the common stock of DoCoMo and the terms of the Stock Sale and Purchase Agreement (applicable to the DoCoMo PLDT Shares) and Co-Operation Agreement (applicable to the DoCoMo PLDT Shares, the Additional DoCoMo PLDT Shares (as defined in Amendment No.4) and the Second Additional DoCoMo PLDT Shares), the Reporting Persons and DoCoMo constitute a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 and therefore, each of the Reporting Persons may be deemed to have acquired beneficial ownership of the 29,255,689 Common Shares, in aggregate, beneficially held by the Reporting Persons and DoCoMo. Given the terms of the Shareholders Agreement and the Co-Operation Agreement (as described in Amendment No. 3), the Reporting Persons and DoCoMo and the other parties to the Strategic Agreement, the Shareholders Agreement and the Co-Operation Agreement might be deemed to constitute a “group.” However, the Reporting Persons disclaim that they have agreed to act as a group with any other parties to the Strategic Agreement, the Shareholders Agreement or the Co-Operation Agreement (other than to the extent provided in the Shareholders Agreement and the Co-Operation Agreement) and the Reporting Persons disclaim beneficial ownership of the Common Shares other than the amounts of shares reported for the Reporting Persons herein.

(b) NTTC has the shared power to vote or dispose or to direct the vote or disposition of the 29,255,689 Common Shares beneficially owned by NTTC and DoCoMo. By virtue of its ownership of all of the issued and outstanding capital stock of NTTC and a majority of the issued and outstanding capital stock of DoCoMo, NTT has the power to direct the voting or disposition of the Common Shares beneficially owned by NTTC and DoCoMo.

(c) Except for the purchase by DoCoMo of the Additional DoCoMo PLDT Shares and the Second Additional DoCoMo PLDT Shares described in Item 3, neither the Reporting Persons, nor to the knowledge of each Reporting Person, any of its directors or executive officers has effected any transaction in the Common Shares during the past sixty days. The following table sets forth, for the open market purchases by DoCoMo described in Item 3, the dates of such open market purchases, the numbers of Additional DoCoMo PLDT Shares or Second Additional DoCoMo PLDT Shares purchased, the prices per share (rounded to the nearest one U.S. cent or one Philippine centavo) of such purchases and the exchange through which such open market purchases were effected (the open market purchases made through the New York Stock Exchange were for American Depositary Shares of PLDT, each representing one Common Share):

 

Date of Purchase

  

Number of

Shares Purchased

   Price per share    Exchange

Additional DoCoMo PLDT Shares:

  

03/20/2007

   115,000    US$ 47.94    New York Stock Exchange

03/21/2007

   121,000    US$ 49.52    New York Stock Exchange

03/21/2007

   45,400    PhP  2,378.93    Philippine Stock Exchange

03/23/2007

   109,428    US$ 52.31    New York Stock Exchange

03/26/2007

   110,946    US$ 52.28    New York Stock Exchange

03/26/2007

   64,000    PhP 2,499.97    Philippine Stock Exchange

03/27/2007

   109,342    US$ 52.60    New York Stock Exchange

03/27/2007

   64,000    PhP 2,546.39    Philippine Stock Exchange

03/28/2007

   109,874    US$ 52.01    New York Stock Exchange

03/28/2007

   34,090    PhP 2,510.01    Philippine Stock Exchange

03/29/2007

   109,856    US$ 52.84    New York Stock Exchange

03/29/2007

   63,760    PhP 2,499.89    Philippine Stock Exchange

03/30/2007

   111,924    US$ 52.91    New York Stock Exchange

03/30/2007

   63,650    PhP 2,528.49    Philippine Stock Exchange

04/02/2007

   42,783    US$ 52.88    New York Stock Exchange

04/02/2007

   64,200    PhP 2,527.03    Philippine Stock Exchange

04/03/2007

   2,192    US$ 52.75    New York Stock Exchange

04/04/2007

   13,000    PhP 2,550.00    Philippine Stock Exchange

04/10/2007

   19,409    US$ 52.97    New York Stock Exchange

04/10/2007

   67,288    PhP 2,529.50    Philippine Stock Exchange

04/11/2007

   110,617    US$ 52.27    New York Stock Exchange

04/11/2007

   35,490    PhP  2,503.87    Philippine Stock Exchange

04/12/2007

   114,444    US$ 50.93    New York Stock Exchange

04/12/2007

   67,150    PhP 2,445.72    Philippine Stock Exchange

04/13/2007

   13,847    US$ 50.43    New York Stock Exchange

04/13/2007

   67,310    PhP 2,397.75    Philippine Stock Exchange

04/16/2007

   116,062    US$ 50.91    New York Stock Exchange

Total

   1,966,062      


Second Additional DoCoMo PLDT Shares:

        

04/17/2007

   66,010    PhP  2,516.59    Philippine Stock Exchange

04/17/2007

   42,825    US$ 51.88    New York Stock Exchange

04/18/2007

   67,250    PhP 2,493.51    Philippine Stock Exchange

04/19/2007

   47,720    PhP 2,497.79    Philippine Stock Exchange

04/19/2007

   118,058    US$ 51.96    New York Stock Exchange

04/20/2007

   67,960    PhP 2,503.31    Philippine Stock Exchange

04/20/2007

   95,306    US$ 52.89    New York Stock Exchange

04/23/2007

   2,810    PhP 2,543.20    Philippine Stock Exchange

04/24/2007

   67,270    PhP 2,529.95    Philippine Stock Exchange

04/27/2007

   55,000    PhP 2,550.00    Philippine Stock Exchange

04/30/2007

   68,340    PhP 2,541.83    Philippine Stock Exchange

05/02/2007

   68,550    PhP 2,545.48    Philippine Stock Exchange

05/03/2007

   68,760    PhP 2,541.94    Philippine Stock Exchange

05/04/2007

   39,810    PhP 2,522.26    Philippine Stock Exchange

05/07/2007

   10,000    PhP 2,550.00    Philippine Stock Exchange

05/08/2007

   22,210    PhP 2,550.00    Philippine Stock Exchange

05/09/2007

   52,970    PhP 2,548.68    Philippine Stock Exchange

05/10/2007

   7,160    PhP 2,500.00    Philippine Stock Exchange

05/11/2007

   54,790    PhP 2,542.92    Philippine Stock Exchange

05/23/2007

   103,703    US$ 54.76    New York Stock Exchange

05/24/2007

   66,550    PhP 2,484.65    Philippine Stock Exchange

05/24/2007

   113,550    US$ 53.97    New York Stock Exchange

05/25/2007

   45,110    PhP 2,538.17    Philippine Stock Exchange

05/25/2007

   4,596    US$ 54.65    Philippine Stock Exchange

05/28/2007

   31,880    PhP 2,545.14    Philippine Stock Exchange

05/29/2007

   61,090    PhP 2,544.77    Philippine Stock Exchange

05/30/2007

   62,830    PhP 2,518.60    Philippine Stock Exchange

05/30/2007

   85,620    US$ 54.28    New York Stock Exchange

05/31/2007

   62,040    PhP 2,544.02    Philippine Stock Exchange

06/07/2007

   16,770    PhP  2,542.72    Philippine Stock Exchange

06/07/2007

   13,500    US$ 55.00    New York Stock Exchange

06/07/2007

   4,190    PhP 2,547.94    Philippine Stock Exchange

06/20/2007

   56,521    US$ 56.95    New York Stock Exchange

06/21/2007

   5,000    PhP 2,600.00    Philippine Stock Exchange

06/25/2007

   82,683    US$ 56.90    New York Stock Exchange

06/26/2007

   45,915    US$ 56.93    New York Stock Exchange

06/27/2007

   56,390    PhP 2,636.87    Philippine Stock Exchange

06/27/2007

   81,917    US$ 56.54    New York Stock Exchange

Total

   2,022,654      

The aggregate purchase price for the open market purchases through the Philippine Stock Exchange was Php 1,616,944,032 for the Additional DoCoMo PLDT Shares and Php 2,986,368,762 for the Second Additional DoCoMo PLDT Shares. The aggregate purchase price for the open market purchases through the New York Stock Exchange was US$67,845,725.76 for the Additional DoCoMo PLDT Shares and US$46,013,439.82 for the Second Additional DoCoMo PLDT Shares.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: July 2, 2007   NIPPON TELEGRAPH AND TELEPHONE CORPORATION
  By:  

/s/ Hiroo Unoura

  Name:   Hiroo Unoura
  Title:   Executive Vice President


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: July 2, 2007   NTT COMMUNICATIONS CORPORATION
  By:  

/s/ Jun Sawada

  Name:   Jun Sawada
  Title:   Vice President


SCHEDULE A

DIRECTORS AND EXECUTIVE OFFICERS

OF

NIPPON TELEGRAPH AND TELEPHONE CORPORATION (“NTT”)

The name, country of citizenship, residential or business address, present principal occupation or employment, and the name, principal business and address of any corporation or other organization in which such employment is conducted, of each of the directors and executive officers of NTT is set forth below. All of the persons listed below are directors of NTT and unless otherwise indicated, each occupation set forth opposite a director’s name refers to employment with NTT. If no address is given, the director’s business address is 3-1, Otemachi 2-chome, Chiyoda-ku, Tokyo 100-8116, Japan. NTT’s principal business is serving as a holding company for subsidiaries engaged in providing telecommunications services. These services fall into seven major classes: telephone services, telegraph services, leased circuit services, data communication facility services, Integrated Services Digital Network (“ISDN”) services, sale of telecommunication equipment and other services.

 

Name

  

Country of Citizenship

  

Present Principal Occupation or

Employment and Principal Business

Norio Wada    Japan    Chairman
Satoshi Miura    Japan    President & CEO
Tsutomu Ebe    Japan    Senior Executive Vice President
Noritaka Uji    Japan    Senior Executive Vice President
Kaoru Kanazawa    Japan    Senior Executive Vice President
Shin Hashimoto    Japan    Executive Vice President
Hiroo Unoura    Japan    Executive Vice President
Kiyoshi Kousaka    Japan    Senior Vice President
Takashi Hanazawa    Japan    Senior Vice President
Toshio Kobayashi    Japan    Senior Vice President
Takashi Imai    Japan   

Chairman Emeritus and Executive Counselor of Nippon Steel Corporation,

6-3, Otemachi 2-chome, Chiyoda-ku, Tokyo 100-8017, Japan

Yotaro Kobayashi    Japan   

Chairman and Director of

Fuji Xerox Co., Ltd.,

17-22, Akasaka 2-chome, Minato-ku, Tokyo 107-0052, Japan

Johji Fukada    Japan    Full-time Corporate Auditor
Susumu Fukuzawa    Japan    Full-time Corporate Auditor
Yasuchika Negoro    Japan    Corporate Auditor
Masamichi Tanabe    Japan    Corporate Auditor
Shigeru Iwamoto    Japan    Corporate Auditor


SCHEDULE B

DIRECTORS AND EXECUTIVE OFFICERS

OF

NTT COMMUNICATIONS CORPORATION (“NTTC”)

The name, country of citizenship, residential or business address, present principal occupation or employment, and the name, principal business and address of any corporation or other organization in which such employment is conducted, of each of the directors and executive officers of NTTC is set forth below. All of the persons listed below are directors of NTTC and unless otherwise indicated, each occupation set forth opposite a director’s name refers to employment with NTTC. If no address is given, the director’s business address is 1-6, Uchisaiwaicho 1-chome, Chiyoda-ku, Tokyo 100-8019, Japan. NTTC’s principal business is providing international and long distance telecommunications services and data transmission services.

 

Name

  

Country of Citizenship

  

Present Principal Occupation or

Employment and Principal Business

Hiromi Wasai    Japan    President & CEO
Masayuki Nomura    Japan    Senior Executive Vice President
Akira Arima    Japan    Senior Executive Vice President
Masae Tamura    Japan    Senior Executive Vice President
Osamu Inoue    Japan    Executive Vice President
Koichi Maeda    Japan    Senior Vice President
Sadao Maki    Japan    Senior Vice President
Mitsuo Murakami    Japan    Senior Vice President
Mikio Doi    Japan    Senior Vice President
Haruhiko Yamada    Japan    Senior Vice President
Toshimune Okihara    Japan    Senior Vice President
Hirotaka Tadakoshi    Japan    Senior Vice President
Yoshimasa Tokui    Japan    Senior Vice President
Testuya Obata    Japan    Senior Vice President
Takao Nakajima    Japan    Senior Vice President
Yutaka Yamaga    Japan    Corporate Auditor
Katsuhiko Fujiwara    Japan    Corporate Auditor
Hideo Maekawa    Japan    Corporate Auditor