San Miguel talked with Japan's ANA for PAL deal

Posted at 07/08/2013 11:48 AM | Updated as of 07/09/2013 9:58 AM

MANILA, Philippines - San Miguel Corp. on Monday confirmed it has had "preliminary" talks with Japanese airline All Nippon Airways (ANA) for a possible partnership in Philippines Airlines Inc (PAL).

But San Miguel denied it has been approached by Emirates Airlines on PAL.

"There have been preliminary discussions with All Nippon Airways on PAL Inc. However, Emirates has not approached the company," San Miguel said. 

The Philippine Daily Inquirer on Monday reported San Miguel is in talks to bring in foreign companies such as ANA and Emirates as possible partners in PAL. The Inquirer said SMC president Ramon Ang, who is also president of PAL, confirmed these foreign airlines have expressed interest in the flag carrier.

Tycoon Lucio Tan is selling his 51% stake in PAL. But San Miguel has the option to buy Tan's stake in the airline.