MANILA, Nov 3 (Reuters) - The PLDT group is considering all options for its planned purchase of additional shares in Manila Electric Co, including matching a $940 million buy-in offer made by the son of the country's mall tycoon last week, the company's chairman said.
'We are studying our options carefully,' Manuel Pangilinan told reporters on Tuesday. 'We have the right to match,' he said.
The PLDT group has first refusal rights over the Lopez family stake and tag-along rights allowing it to sell out of the company along with the business clan at the same terms.
($1 = 47.6 pesos)
(Reporting by Rosemarie Francisco; Editing by Anshuman Daga) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: MERALCO/PLDT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We are studying our options carefully,' Manuel Pangilinan told reporters on Tuesday. 'We have the right to match,' he said.
The PLDT group has first refusal rights over the Lopez family stake and tag-along rights allowing it to sell out of the company along with the business clan at the same terms.
($1 = 47.6 pesos)
(Reporting by Rosemarie Francisco; Editing by Anshuman Daga) ((rosemarie.francisco@thomsonreuters.com; +63 2 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: MERALCO/PLDT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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