|
|
Article: Finance says SC approval key to San Miguel share swap
- Article from:
- The Manila Times
- Article date:
- August 5, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Aug 5, 2009. Provided by ProQuest LLC. (Hide copyright information)
|
The Department of Finance said it is still waiting for the approval of the Supreme Court (SC) to formalize the sale of its 24-percent stake in San Miguel Corp. (SMC) before deciding on what it will do with this government asset.
"To the extent that San Miguel is offering this to government through the Philippine Commission on Good Government and the issue of ownership is not an issue that will have a bearing on the swap, then that is fine," Finance Secretary Margarito Teves said. "After all it would earn interest and as long as it does not jeopardize our proposed claim that this is ultimately owned by the national government based on the decision of Supreme Court that is fine with us," he ...