It's official: San Miguel buys into PAL

[Ry_Tower]

http://business.inquirer.net/20683/p...lks-to-buy-pal

Ano sa tingin niyo? I guess it's time to move on for Lucio Tan...

[crazy_boy]

i think its time to sell PAL na. dahil sa mga strike na nangyayari, The company will just lose money.

[shadow]

pero meron caveat...ayusin dapat muna yun labor problems, mukhang walang solution pa. dahil nakialam nanaman ang SC. I think with the SC's decision PAL need to pay the retrench employees amounting to P3B...so paano na yan?

[uls]

ya di naman bibilhin ni MVP ang PAL pag may problema pa sa labor

sakit sa ulo ang mabibili niya

pero pag naayos ni Lucio Tan ang labor problem, baket pa niya ibebenta?

[chua_riwap]

PAL

maging Pangilinan Air Lines na......

[_Qwerty_]

problema talaga yang mga unyon unyon na yan eh..

[GTS925]

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

[Monseratto]

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.

[marg]

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

Salim already owns SMART, PLDT, Meralco, NLEX, TV5 and other Utilities.

Everything is for sale im da Pilipins. Including Supreme Court justices.

[chua_riwap]

Pangilinan Air Lines?

& he's planning to buy the Kapuso Network also?

[CoDer]

Salim already owns SMART, PLDT, Meralco, NLEX, TV5 and other Utilities.

Everything is for sale im da Pilipins. Including Supreme Court justices.

Hahahahaha

[Ry_Tower]

Parang nag-wiwindow shopping lang eh.

[vinj]

Tapos in the end... SM din pala bibili. :D

[Monseratto]

Makaka request na ako ng San Mig Beer sa FA?

I guess MVP lost the bidding war...

(UPDATE as of 12:16 p.m.) MANILA, Philippines - Philippine Airlines said Wednesday it had sold a minority stake in the loss-making carrier to San Miguel Corp, one of the country's biggest conglomerates, but both sides refused to disclose details.

San Miguel, best-known for its beer but which has diversified into a wide range of business sectors in recent years, will also take a minority stake in PAL's low-cost airline, Air Phil, as part of the deal, a joint statement said.

The statement said San Miguel "welcomes the opportunity to participate in the refleeting and modernisation plans of the two airlines".

PAL spokeswoman Cielo Villaluna said the deal was signed between PAL's billionaire chairman, Lucio Tan, and San Miguel's president, Ramon Ang, late Tuesday.

But the joint statement, as well as Villaluna, did not reveal further details, such as the size of the stake or the amount of money involved. "That is all we are willing to say at the moment," Villaluna said.

The announcement came a day after a local press report quoted San Miguel insiders as saying it planned to invest $500 million to buy a 49 percent stake in PAL, Asia's oldest commercial airline.

The stake would have given San Miguel control of PAL, according to the report. PAL reported a net loss of $33.5 million in the three months ending December, reversing a profit of $15.1 million the previous year.

It had said the losses were mainly due to soaring fuel costs and made known it was looking for fresh money to upgrade its fleet, which has lost its status as the nation's most popular carrier to low-cost rival Cebu Pacific.

[uls]

ang tsismis papalitan daw mga tao sa management

SMC will be running PAL

[andywesteast]

Backward and Forward Integration for San Mig.

Petron will supply the Fuel, San Miguel will supply the Beverages and some food items on board.

[chrismarte]

^like Cebu Pac, yung food dati na libre puro URC ngayon may bayad na URC pa rin

[robot.sonic]

Backward and Forward Integration for San Mig.

Petron will supply the Fuel, San Miguel will supply the Beverages and some food items on board.

Na gagamit ng airport nila sa Caticlan.

[lowslowbenz]

Bout time! El Kapitan has had enough, the guy was bleeding red from the very start when he got PAL.

Let's wait and see how beer money turn things around.

[timrev]

diba yun dreamliner ang pinakabago ng airbus? ilang airlines palang meron nyan...