Lucio Tan pledges to invest in order to divest PAL stake

Filipino businessman Lucio Tan is offering to invest $200 million in Philippine Airlines (PAL) on condition the government restricts foreign carriers' access to the Philippines. This is a pretty new tune Tan is playing. Only six weeks ago, finance minister Jose Pardo said Tan had dropped the asking price for his entire PAL interest to $200 million (from $800 million), plus the airline's $2.3 billion debt.