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Ex-DoF chiefs 'not telling entire story' in PNB deal, Cuisia says.
"They are not giving us the whole story."
Thus said former central bank governor Jose L. Cuisia, Jr. on the statements of former Finance Secretaries Jose T. Pardo and Edgardo B. Espiritu on the sale of the government's stake in Philippine National Bank (PNB) to tycoon Lucio C. Tan last year.
Mr. Cuisia yesterday alleged the State ended up with a lousy deal when it also granted a P25-billion loan to the bank last October, while retaining its deposits with PNB.
"This is really lutong Macau!" Mr. Cuisia, who is now president and CEO of The Philippine American Life and General Insurance Company, told BusinessWorld.
He said Mr. Tan's entry in …
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- Gov't wants more time to look for PNB buyers other than Lucio Tan.
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News wire article from: Asia Africa Intelligence Wire
March 29, 2005
700+ words
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- Lucio Tan matches UnionBank bid, to gain 77% stake in PNB.
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News wire article from: Asia Africa Intelligence Wire
August 19, 2005
700+ words
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- Lucio Tan plans to maintain his holdings in PNB (Through stock rights offering).
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Magazine article from: BusinessWorld (Philippines)
September 22, 2000
700+ words
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- Lucio Tan needs P10B to turn around PNB.
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Magazine article from: BusinessWorld (Philippines)
Villamor, Reena J.
November 30, 1999
700+ words
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- BSP to check Lucio Tan's P10-B 'ready' fund for PNB.
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Magazine article from: BusinessWorld (Philippines)
October 4, 2000
700+ words
