first pacific Archives » Pinoy Money Talk

Manny Pangilinan to buy Philippine Airlines (PAL)?

Manny V. Pangilinan (MVP) is on a buying spree.
Through his holding firm Metro Pacific Investments Corp. (MPI), MVP acquired the following:

telecommunication company PLDT in 1988;
water concessionaire Maynilad in 2006;
the Manila North Tollways in 2008;
the Philippines’ largest mining company Philex in 2009
power distribution company Meralco in 2009;
hospital Makati Medical Center in 2009;
broadcast network ABC5 (now TV5) also in 2009

Now it appears that MVP wants to add in this portfolio another company that is significant to most Filipinos. Rumor has it that he is already in talks to buy the country’s flag carrier, Philippine Airlines or PAL.

Philex (PX) bidding war: Manny Pangilinan vs. Ramon Ang

Another bidding war is supposedly in the making between the two groups allegedly responsible for the 275% increase in the price of Meralco (MER) during the last 7 months.

The latest battlefront: Philex Mining Corporation (Stock Code: PX).

Meralco officials sell MER stocks, cash in P14.8 million

As stock traders and investors go gaga over the staggering price increase of the stock of Meralco (Stock Code: MER), several officials of the power distribution company are locking in profits by selling their shares, disclosure reports to the Philippine Stock Exchange (PSE) show.

In July alone, more than 65,000 shares were disposed by eight Meralco officers, with total value amounting to P14.8 million. Although each executive had varying amounts of proceeds, on the average, each one of them got around P1.8 million.

A list of Meralco officers and the number and value of the shares they sold in July are as follows.

Meralco (MER) stock surges 275% due to Ang-MVP bidding war

If you’re currently following the Philippine stock market, you’re most probably aware of the continuous surge in the price of Meralco (Stock Code: MER).

The stock of the power utility company was one of the Philippine Stock Exchange (PSE)’s biggest gainers during the first half of 2009.

As of July 31, it was up by a staggering 275% from its P58.00 price in January. In the month of July alone, the stock more than doubled in value, closing at an all-time high of P295.00 in July 29.