San Miguel Corporation (SMC) on Monday said it is in talks with All Nippon Airways for a partnership arrangement in flag carrier Philippine Airlines (PAL), the diversified conglomerate revealed Monday.
"We advise that there have been preliminary discussions with All Nippon Airways on Philippine Airlines Inc.," SMC said in a disclosure to the Philippine Stock Exchange.
However, it said Emirates Airline has not approached the SMC regarding PAL.
Earlier, SMC denied it is acquiring Lucio Tan's 51-percent holdings the flag carrier and Tan's LT Groupsaid it was "seriously" studying the offer of unnamed investors to buy its 51-percent stake in PAL.
In April 2012, SMC purchased a 49 percent minority stake in PAL Holdings and invested $500 million to revitalize PAL's wholly-owned budget airlines Air Philippines. ? Danessa Rivera/VS, GMA NewsSource: http://ofwmagazine.com/2013/07/08/san-miguel-in-talks-with-japans-ana-on-pal-deal/
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