Another bidder for Equitable PCI?

Following on from yesterdayÆs report, a new bidder may be readying to enter the ring to buy 65% of Equitable PCI in the Philippines.

That bidder is strongly rumoured to be a consortium of AIG and Newbridge Capital. AIG was contacted, but said it couldnt issue a statement, and Newbridge couldnt be reached for comment.

Both institutions would make sense. AIG is headed in the Philippines by Joseph Cuisa, who was not only the former chairman of Far East Bank, but is a former central bank governor. Meanwhile, Newbridge has already made a significant bank purchase of Korea First Bank and views banking as one of its specialties. The other contenders are BPI and Metrobank. If either of these merged with Equitable PCI they would create a megabank with a 25% market share.

Equitable PCI is...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222