Shareholders, not management, involved in PAL share, says COO Bautista
In the rumored sale of Philippine Airlines shares to third parties, “any talks or negotiations are just between our principal shareholders and the SMC group. PAL management is definitely not part of it,” PAL president and chief operating officer Jaime Bautista said Friday.
Bautista’s statement came hours after Agence France Presse reported that “(t)alks are definitely ongoing.” The French news agency was quoting PAL spokesperson Cielo Villaluna.
“As to the acquisition of shares and details of the negotiations, we are bound by on-disclosure until (the) fine print of the deal is reached.” Villaluna said.
Bautista explained that PAL is “separate and distinct” from its individual shareholders.
“Ms. Villaluna said talks are definitely ongoing, but didn’t say it was between PAL and San Miguel Corp.,” the airline executive said.
He added that Villaluna “must have been referring to published reports about ongoing negotiations between shareholders of the two companies.” — RRD/ELR/VS, GMA News
Bautista’s statement came hours after Agence France Presse reported that “(t)alks are definitely ongoing.” The French news agency was quoting PAL spokesperson Cielo Villaluna.
“As to the acquisition of shares and details of the negotiations, we are bound by on-disclosure until (the) fine print of the deal is reached.” Villaluna said.
Bautista explained that PAL is “separate and distinct” from its individual shareholders.
“Ms. Villaluna said talks are definitely ongoing, but didn’t say it was between PAL and San Miguel Corp.,” the airline executive said.
He added that Villaluna “must have been referring to published reports about ongoing negotiations between shareholders of the two companies.” — RRD/ELR/VS, GMA News
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