Electrifying Bidding War For Philippine Power Producer

A bidding war for the Philippines' leading energy producer is heating up, underlining both the relative buoyancy of the local economy and of the forecast growth in electricity demand the country is seeing. In a fight equivalent to the 1975 'Thrilla in Manila', a battle for further control of Manila Electric (Meralco) is proving to be the fiercest corporate duel that the country has seen in years. Groups headed by San Miguel Corporation and Philippine Long Distance Telephone are attempting to out-manoeuvre each other, to increase their stake in a sector with outstanding growth potential.

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