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San Miguel Corp. Buys GSIS Stake in MERALCO

It is now official! San Miguel Corp. (SMC) will buy the 27% stake of the Government Service Insurance System (GSIS) at MERALCO, price of which is PHP90.00 per share — payable in three years. This was confirmed based on Disclosure 7393-2008 (October 27, 2008) received by the Philippine Stock Exchange Commission.

Why did Winston Garcia and his cohorts, este co-directors suddenly changed their minds and sold their share to SMC? Does this verify the rumor that the GSIS is really bankrupt? Nagtatanong lang po!

PS: What happened to our complaint two years ago? Cover up! Cover up!

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