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MVP evaluates next moves after SMC enters Meralco
The Philippine Star
|July 30, 2025
Tycoon Manuel V. Pangilinan is keeping options on the table after billionaire Ramon Ang's San Miguel Corp. (SMC) finally makes its long-delayed entry into Manila Electric Co. (Meralco).
"That was discussed earlier at the board meeting. No decision yet. We just look at the options," said Pangilinan, who serves as Meralco's chairman and CEO.
Pangilinan was referring to SMC's acquisition of state-run Land Bank of the Philippines' 3.8-percent stake in Meralco for P3.9 billion — a deal that had been stalled for about 17 years.
SMC unit San Miguel Global Power (SMGP) purchased about 43.23 million common shares of Meralco for P90 each, which was transacted on the Philippine Stock Exchange last week via a special block sale.
Pangilinan said Meralco officials have yet to engage with Ang regarding his next move on the shares SMC acquired at a heavily discounted price.
This story is from the July 30, 2025 edition of The Philippine Star.
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