Anyone interested to buy the Philippine Bank of Communications (PBCom)?
PBCom, a minor player in the Philippine banking industry, is again up for rebidding with the Macquarie Group already sending out invitations to other banks to submit a bid proposal.
The sale is part of the bank’s agreement with the Philippine Deposit Insurance Corporation (PDIC) to divest a majority of its shares following the bank’s rehabilitation in 2004 wherein the PDIC extended P7.6 billion worth of financial assistance to PBCom.