Last January, I wrote a blog post regarding the possibility of San Miguel Corporation Buying Shares of Philippine Airlines. Just around three months after, a final deal was made known to the public, Philippine Airlines sells around 49% of its stake to San Miguel Corporation.
According to the news, "San Miguel president Ramon Ang said the $500-million investment had bought his company a 49-percent stake in PAL and its low-cost offshoot, Airphil Express".
Will this mean a price increase in the shares of stocks for Philippine Airlines and San Miguel Corporation brought about by the markets strong support of SMC's PAL acquisition? Or will this result to a turnaround?
Let's find out! Share your ideas here.
Again, here's the link to my personal opinion/reaction. Just click here.
Also, here's the link from Yahoo News Philippines regarding the details of the acquisition.
Philippine Airlines sells minority stake to San Miguel.
Photo: From the wires.