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Byline: Felipe F. Salvosa II with Kristine Jane R. Liu
Businessman Manuel V. Pangilinan is rejecting talk that the listed holding firm he heads is in short supply of funds to increase its ownership in Manila Electric Co. (Meralco), saying money is available for an additional 6.7% of the country's largest power distribution utility.
Metro Pacific Investments Corp. will "definitely" exercise a call option over the stake, to be provided by Meralco shareholder First Philippine Holdings Corp. of the Lopez family under a deal late last year, Mr. Pangilinan said.
Both camps have twice extended the signing of the call option agreement allowing Metro Pacific and …