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SSS sells its Meralco shares

Posted by Mai on November 25th, 2008

The Manila Times Internet Edition
SSS sells its Meralco shares

SMC increases its stake, looks to acquire more

By Chino S. Leyco And Likha Cuevas-Miel, Reporters

State-run Social Security System (SSS) is selling its shareholdings in Meralco to the country’s largest food and beverage company, San Miguel Corp., as it eyes buying more shares owned by a government bank.

Romulo Neri, SSS presi­dent and chief executive, told The Manila Times that the fund’s board approved last week the sale of about 6 percent of its shares in the Lopez-owed Manila Electric Co. (Meralco) to San Miguel.

Read rest of this story here:
The Manila Times Internet Edition

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