An answer on Equitable PCI tomorrow?

Bids are in to buy a stake in the Philippines Equitable PCI.

By this morning the board of Equitable PCI will have received bids from those interested in acquiring a stake in the bank. The board will meet tomorrow to decide whether any of the bids make sense.

JP Morgan is advising the board on the potential for a domestic bank merger which would involve either BPI, Metrobank or Rizal Commercial Banking Corp which is rumoured to have tied up with Sanwa and Banco Santander to make a bid. ING Barings is advising on the possibility of a foreign party taking a strategic stake. As many as seven bids are expected, both foreign and domestic.

The one complicating factor is the new Philippines takeover...

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