Philippine Airlines’ (PAL) majority owner, Lucio Tan, may be about to sell his shares in PAL, a business which he no longer controls. In a statement, PAL says that some undisclosed investors have approached Tan to buy his 51% stake, adding that “Tan’s group is seriously looking into the proposal.” Some reports have suggested Ramon Ang’s San Miguel Corp. which already owns 49% of PAL and has effective management control of the airline, may be the party looking to buy the 51% stake. But ...
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