Faustino: Offer to convert San Miguel shares pre-empted a decision not favorable to Cojuangco group

Posted at 10/15/2009 6:28 AM

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In the October 14 episode of Business Nightly, host Ricky Carandang interviewed Coconut Industry Reform executive director Joey Faustino after Presidential Commission on Good Government Ricardo Abcede dared a debate over a recent Supreme Court decision.
 
Abcede, however, called in sick.
 
In the first segment of the show, Faustino raised the legal, economic, and ethical issues surrounding the Supreme Court recent decision that allowed the conversion of the disputed shares in San Miguel Corporation
 
He said what seemed to be economically sound proposal from San Miguel to convert the contested shares into non-voting ones pre-empted what could have potentially been another decision from the Supreme Court that is not favorable to the Cojuangco group.

View segment 2 here.

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