Political Law Review | Self-executing provisions Wilson P. Gamboa , a stockholder of Philippine Long Distance Telephone Company (PLDT), filed an original petition for prohibition, injunction, declaratory relief, and nullity of sale against Finance Secretary Margarito B. Teves and other respondents. He challenged the government’s sale of 111,415 shares ( 46.125 % of capital) of Philippine Telecommunications Investment Corporation (PTIC), PLDT’s holding company, to Metro Pacific Assets Holdings, Inc., an affiliate of First Pacific Company Limited. PTIC already held about 13.847% of PLDT’s outstanding common shares; the sale increased First Pacific’s indirect common‐shareholding in PLDT from 30.7% to 37%, and, when combined with other foreign investors, raised total foreign common shareholdings in PLDT to over 51%, breaching the 40% ceiling on foreign ownership of public utilities under Section 11, Article XII of the Constitution. Whether Section 11, Article XII a self-executing pr...