DBP, Landbank near MRT takeover

MANILA, Philippines — Two government banks are to take over the Metro Rail Transit (MRT) next month, following acquisition of 56 percent of MRT Corp. as of February, the government announced Monday.

Development Bank of the Philippines (DBP) and Land bank of the Philippines will GET six of the 14 seats on the board of MRT Corp. on April 2, DBP president Reynaldo David said.

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