Meralco takeover an option for PLDT

MANILA, Philippines — Philippine Long Distance Telephone Co. (PLDT) has expressed interest in taking over control of Manila Electric Co. (Meralco) by buying the 34-percent stake held by the Lopez family that runs the country’s largest power retailer.

Long before PLDT trust fund acquired a 10.17-percent stake in Meralco, there was already talk at the stock market about the increasing “pressure” on the Lopez family to sell out, not to mention the attractive price of the stock in the market.

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