Pangilinan is into real estate development (The Fort), telecommunications, power (Meralco), and what else? He is slowly becoming a force in media, another field of influence.
The Philippine Daily Inquirer announces that after two decades of productive partnership with the (Ben) Pangilinan and Garcia families, they have decided to sell their equity in the company.
As a result, Associated Broadcasting Company (ABC), which owns TV5 and other stations, has bought a 10% stake in the Inquirer.
ABC’s purchase of the shares was finalized on Wednesday.
The Inquirer thanks the Pangilinan and Garcia families for helping steady the company’s course through the years toward the fulfillment of its mission and vision.
The newspaper welcomes the entry of ABC, now under the management of Manuel V. Pangilinan.
While ABC will have no direct involvement in the operations of the news organization, the Inquirer is confident that its new partners will be equally steadfast stewards of its editorial independence and proven business model.
PDI has been partnering with GMA-7 and now comes ABC TV5! ???
Pangilinan is into real estate development (The Fort), telecommunications, power (Meralco), and what else? – Ellen
Pangilinan has also bought NLEX from the Lopezes. Also from the Lopezes, Pangilinan through Metro Pacific Investments had acquired water distributor Maynilad in partnership with DMCI. Pangilinan also saved the Lopezes from what was going to be a violent takeover of Meralco by Danding Cojuangco/Ramon Ang.
He now has his own TV station, this time, competing with the Lopezes.
Presently, there are 3 big groups are in full speed diversified M&A mode: Metro Pacific, San Miguel, and the Ongpin/Recto group.
It looks like MVP is ahead of the two other groups.
His corporate moves are amazing. Slow but sure. before we know it, he owns the whole Philippines.
this is where the Anti-Trust law should come in , monopoly is inimical to national interest, consumers shoud recall that when Pangilinan group took over control of Meralco from the Lopezes, electricity rate immediately doubled and tripled without any explanation
aside from extremely corrupt politicians,another problem of the Phil were extremely greedy and conscienceless Taipans whose God is money, like Gokongwei, Pangilinan, Razons, etc….
i think it is govt’s job to see to it that greed does not overwhelm ones conscience thru proper taxation.i would prefer big govt than monopolies as long as govt can get rid of corrupt officials. this is why pnoy represents hope for pinas since he seems to be less corrupt.
Take a look at this BusinessWorld news item:
http://www.bworldonline.com/main/content.php?id=15440
It looks like MVP is also into radio.(It’s prohibited for a company to be into tri-media) It’s hidden under corporate layering.
Under PLDT is Beneficial Trust Fund which has a subsidiary- MediaQuest Holdings, Inc.
Mediaquest acquired ABC Development which owns TV 5.
It was ABC Development that bought 10% of Inquirer.
Mediaquest has a controlling stake in National Broadcasting Corp that operates a network of radio stations, 30 per cent of Business World and 8 per cent in the Philippine Star.
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Wow, he owns shares in two of the country’s top newspapers and a business paper.
TV-5 is not yet a major player in the TV area but he is pouring good money into it.
And he is also into radio. (What happens to the prohibition on a company or person into tri-media?)
He is into telecommunications, power, water, infrastructure,etc. etc.
Is it healthy to have all these under the control of one man?
it seems that in the Phil..some businessmen want to play Monopoly..it is a free enterprise..how can you restrict or limit one’s ownership of properties or businesses? mahirap!
That’s what happen when you have a government that do not function as a government. Marami tayong dapat ipagpasalamat sa kalokohan ng nakaraang administrasyon ni pandak. How do you control monopolization of every business in the Philippines? How will the consumers be protected from these non-free market system due to monopolitic tendency of every major players in Philippine business. Kaya in my view, electricity sold in spot market, is bullshit! It does’nt work! Gobyerno nga ala ng check and balance mga business pa? consumers ala ng pagpilian over tax pa in the form of toll fees, high electricity rates, corruptions, low income, etc, etc..hay buhay!
looks like its about time gov’t take a closer look at the monopoly game of Manny pangilinan, is this beneficial or harmful for the country? even 1st world and powerful country like USA prohibit monopoly, what more a 3rd world country like the Phil. This monopolistic and illegal activities of manny pangilinan must be stopped, before the monster gets bigger and difficult to control.
Pangilinan’s principals are Indonesians – the Salim Group. It’s an Indonesian assault on Philippine business and the traditional old rich families are just stupidly watching as the country’s wealth slips away.
The Salim patriarch, Soedono Salim, is a Chinese born businessman and is almost a hundred years old but still chairman of the Salim Group. The son, Anthoni Salim is president and CEO of the Group which founded, with Pangilinan, the First Pacific Corp. the parent company of Metro Pacific Investments Corp. of which he is chairman and Pangilinan as President and CEO.
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In my other comment above (#3) I forgot to add that Pangilinan’s Metro Pacific is also into Hospitals, after buying Makati Med, Davao Doctors’ and Cardinal Santos Med. They have also apparently bought Philex Mining from Walter Brown and Ricky Razon.
Big money nowadays revolve around very few industries: Energy, Food processing, Minerals, Healthcare and Transportation and Communications. The 3 groups I mentioned above are all into these industries.
It is not about personalities in business. It is the government agencies, whom we trusted, to manage our affairs related to these businesses. Problem are these agencies that were formed to act as the guardians of common good, became employees for these big business, to include most in Congress and Judiciary. That is why the many loop holes in our laws and slow justice or non-at all, and at the same time we suffers from never ending rise in electricity and energy cost, and toll fees plus taxes to name a few.
sa larong Monopoly mayroong Go to Jail and Pay Taxes…mayroon din ba sa tunay na buhay in business?
the object sa larong Monopoly is to buy all the properties..houses, hotels, and utilities and avoid going to jail and paying taxes..I guess ganoon din sa tunay na business world..
Pangilinan is out of control and being allowed by the government to do his thing, grabbing everything in sight and engaging in all kinds of business especially in media. There are government laws that limit ownership and control of certain businesses, but why is he getting away with it?
Maybe it’s not all about money; he already has lots of it, but more about ego, prestige and a mad rush to claim the top honor as the most ingenious and smartest businessman the country ever had.
Owning vast and majority interest in almost all kinds of business especially in media is not healthy. It’s dangerous. The media is a great manipulator and shaper of events and so not only informations can be controlled but also the economy.
The government should look harder on the “activities” of Pangilinan and put him on a leash if warranted.
I might be wrong, but my take is, he is a big contributor and that makes him untouchable.
another problem in pinas is one does not really know how rich are the rich. if pinas govt knew the value of all persons wealth, it can devise a plan to tax them better so that some of their wealth may be redistributed to the population in general.who knows, they may end up as philantropists if they donot trust the govt.