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(From Philippine Daily Inquirer)
Byline: Ronnel W. Domingo
THE GOVERNMENT takeover of the Manila Electric Co. is a "done deal" and government nominees will take the top seats in its board of directors, the leader of a consumer group said yesterday.
Alain Pascua, national chair of the Katipunan ng mga Anak ng Bayan-All Filipino Democratic Movement (or Kaakbay), said the takeover was expected to be implemented within the week.
"We have received reports that Oscar Reyes, a close associate of Finance Secretary Jose Isidro Camacho, will replace Manuel Lopez as Meralco chair," Pascua said in a phone interview. "It is also possible that Camacho, …