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San Miguel signs US$1b deal to sell out of Philippine Airlines

2014-09-09 06:23:22| Beverages - Topix.net

Ramon Ang initially planned to add 100 new jets to Philippine Airlines' fleet within a period of five to seven years to make the carrier competitive and profitable. Photo: AFP San Miguel Corp, the Philippines' most diversified conglomerate, has agreed a US$1 billion deal to sell its stake in Philippine Airlines back to the group, its chief executive said on Monday.

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