Business Deals
PAL in sale talks with San Miguel
MANILA, Philippines - Philippine Airlines (PAL) said Friday it was in talks to sell a stake in the loss-making flag carrier to local conglomerate San Miguel.
San Miguel says may sell part of power unit
MANILA, Philippines - Diversified conglomerate San Miguel Corp. said on Thursday it is in talks with investors interested in acquiring a portion of its power unit after it deferred a planned $850 million public offer due to market volatility.
Globe welcomes approval of PLDT-Digitel deal
MANILA, Philippines - Globe Telecom Inc., the country's second-largest telecommunications player, has welcomed the approval of Philippine Long Distance Telephone Co.'s (PLDT) acquisition of Digital Telecommunications Philippines Inc. (Digitel) on two conditions set by regulators.
Malaysia's CIMB in talks with San Miguel for bank stake
KUALA LUMPUR/MANILA - Malaysia's second-largest bank CIMB Group said on Thursday it was in early talks to acquire a stake in unlisted medium-sized Philippine lender Bank of Commerce from Philippine conglomerate San Miguel group.
Jollibee acquires major stake in Burger King
MANILA, Philippines
(UPDATE)- Fast food giant Jollibee Foods Corp. has agreed to buy a major stake in the firm that operates the Burger King franchise in the country for P65.5 million.
Ongpin: I was a technocrat, not crony
Businessman Roberto V. Ongpin recently sat down with Pia Hontiveros for an interview on ANC's Strictly Politics. He talked about his struggles during the Martial Law years, his return to private life, the DBP loan and why he "resents" being called a Marcos crony.
San Miguel may spend $1.2-B to upgrade Malaysian assets
MANILA, Philippines - Conglomerate San Miguel Corp. may invest up to $1.2 billion to upgrade and expand the oil refinery and retail station network it acquired from Exxon Mobil in Malaysia last month, a company director said on Tuesday.
MVP to drop PLDT-Digitel deal if no regulatory approval by Aug. 26
MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) chairman Manuel V. Pangilinan said he will no longer pursue the phone company’s deal with Digitel if it fails to secure regulatory approvals by August 26.