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Article: MPC bank lenders need to be protected; Gokongwei guarantee sought.(Business)
- Article from:
- Manila Bulletin
- Article date:
- June 7, 2002
CopyrightCOPYRIGHT 2002 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: FIL C. SIONIL
The Bangko Sentral ng Pilipinas (BSP) and the Department of Finance (DOF) want a guarantee from the Gokongwei family, the prospective buyer of Philippine Long Distance Telephone Company (PLDT), that outstanding exposures of domestic banks in Metro Pacific Corporation are protected should the deal pushes through.
"We want to make sure that the exposure of local banks are protected," BSP Governor Rafael Carlos B. Buenaventura said.
He disclosed that he share this "concern" with Finance Secretary Jose Isidro N. Camacho, particularly on the effect of the purchase by the Gokongwei group of PLDT on the liabilities of Metro ...