Tug Of War
27% stake - The Lopez Family (First Philippines Holdings)
+ 10% stake - PLDT (Chairman Manuel V Pangilinan, Beneficial Trust Fund established by Benefit Plan of PLDT Co., New Gallant Ltd)
27% stake - San Miguel Group (Chairman Danding Cojuangco, COO and President Ramon Ang, et al.)
+ 10% stake - Global 5000 Investment Inc. (Local Fund Group)
The rest are held by the minority stakeholders and the public.
Notes:
1) San Miguel acquired the stake from GSIS late last year following failed attempts to take over Meralco and bring down electricity rates.
2) The PLDT stake were purchased just recently, only February and March of this year.
3) During the last day of share buying (March 6, 2009) to participate in the much anticipated Meralco Annual Stockholder's Meeting in two months' time, it was reported by a stock market analyst that San Miguel President and COO Ramon S. Ang was in the market following reports that Mr. Pangilinan had thrown his hat into the ring.
“The speculation right now is that Mr. Ang was buying in his own capacity on behalf of the San Miguel group,"
So who will come out victorious in MAY? Well, your guess is as good as mine.