It's official: San Miguel buys into PAL

**GTS925** · February 9th, 2012 08:02 PM

Bakit naman sila pumayag na ibenta yung mga kompanya na toh sa foreigner?

**Monseratto** · February 9th, 2012 09:49 PM

COCKTALES: MVP meets Lucio Tan, fuels PAL buyout talks - InterAksyon.com

09-Feb-12, 12:03 PM | Victor Agustin

PLDT chairman Manuel V. Pangilinan was seen Tuesday meeting with Philippine Airlines owner Lucio Tan at the Tan-owned Century Park hotel in Malate.

Pangilinan, according to the pro-Lucio Tan chatter, was accompanied by Tan son-in-law, Macroasia president Joseph Chua in the hotel's business center Tuesday morning while the annual shareholders' meeting of Victorias Milling was underway.

Pangilinan, who could not be reached for comment, was supposed to have offered to acquire not just 49 percent but a complete takeover of the ailing flag carrier.

Pangilinan was earlier quoted in the press as having already dropped any bid for PAL, explaining that an acquisition into the Tan airline would put him into a conflict-of-interest position with his Digitel partner, Cebu Pacific owner John Gokongwei.

The market rumor of a revived Pangilinan interest, incidentally, has also reached the competing camp of San Miguel president Ramon Ang.

Ang, his competitive spirits spurred, is reportedly preparing a counter-offer, to be personally delivered to the enigmatic PAL chairman.

Ang was said to have partnered again with Marcos-era trade minister Roberto Ongpin when he earlier submitted an unconfirmed $500 million for a 49 percent stake and a management provision in both PAL and its sister budget carrier, Airphil Express.