Will MVP return RSA’s money if Inquirer takeover breaks down?
With the sale on the rocks, will Manny Pangilinan return his competitor’s money?
Ramon S. Ang is apparently having cold feet about buying the Philippine Daily Inquirer amid some doubts about the company’s financial health with a reported P200-million loss in 2017.
The Prietos have also been stingy about updates on the buyout which was first announced in 2017. The only progress made so far was the payment made by the San Miguel Corp. president to the PLDT Group to acquire the 12 percent stake it holds in the paper.
Philippine Star columnist Victor Agustin said Inquirer owners have convinced Ang to make an advance payment to Pangilinan “without inviting the other minority shareholders” if they wanted to get that slice instead.
Now that the deal appears to be a no-go, will MVP still want their stake back or is he good with cash?