Another blow for Equitable PCI

The Estrada impeachment trial and the resignation of two senior government officals has put a stop to the sale of Equitable PCI.

Friday cant have been a very fruitful day for the bankers who were supposed to be pitching for the advisory role to sell Equitable PCI. Hong Kongs finest MA experts were supposed to descend on Manila in the hope of winning the mandate from the banks board which wants to sell up to 35% of the bank. But politics intervened. And, as far as FinanceAsia can tell, many cancelled their trips.

Why Well, adding to the many complications of the sale see related stories was the fact that anti-Estrada riots shut Manila down. A FinanceAsia staff member staying in the Peninsula Hotel was told not to leave...

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