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Article: Philippines: Meralco stake sale talks nearly over.

Article from:
TendersInfo
Article date:
October 30, 2009
Copyright

Byline: babalu03

HOLDING FIRM Metro Pacific Investments Corp. expects to soon conclude talks to buy an additional 6.7% stake in Manila Electric Co. (Meralco) from the Lopez family, its chairman yesterday said.

"That is the area of discussion but we should finish the discussion very shortly," Metro Pacific Chairman Manuel V. Pangilinan told reporters regarding the group s talks with the Lopezes on the sale of a 6.7% stake.

Oscar Lopez, the patriarch of the Lopez business clan which has run Meralco for decades, said on Monday that the family was in talks to sell half of its remaining 13.4% stake to the Pangilinan group.

Mr. Pangilinan ...

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