MANILA, Philippines - Food-to-power conglomerate San Miguel Corp. is willing to unload its entire 27% stake in Manila Electric Co. (Meralco) at the "right price," its chairman said on Friday.

"Everything we have, at the right price, can be bought," Eduardo Cojuangco Jr., chairman of San Miguel, told reporters.

"I think that's a fair statement, at the right price, we're willing to listen."

Meralco is minority owned by the power arm of the Lopez Group of Companies. ABS-CBN is also part of the Lopez Group, with abs-cbnNEWS.com as its online news arm.