Revived GMA-PLDT talks? Gozon ready; MVP says 'why not?'
MANILA, Philippines (UPDATED) - The chair and CEO of broadcasting giant GMA Network Inc. said Wednesday, November 7, the company is "ready" for the possible revival of failed acquisition talks with the group of businessman Manuel V. Pangilinan.
"If they want to revive [the talks], we are ready," Felipe Gozon told reporters in a media briefing on the company's 9-month financial results.
If Pangilinan-led Philippine Long Distance Telephone Co. (PLDT) offers to buy GMA-7 again -- and for a good price -- Gozon said "we will entertain that."
"There are no offers now to buy GMA," he said.
Asked in a separate media briefing if he is open to restarting negotiations with Gozon's firm, Pangilinan replied, "Yes naman. I think we actually, our relationship with Mr. Gozon, GMA and of course the Jimenez family is quite good, in fact it's cordial. So why not?"
Gozon said he and Pangilinan are meeting over a planned partnership between GMA-7 and PLDT for the 2013 mid-term elections.
"MVP is coming here tomorrow to talk about our partnership for the elections," he said, without elaborating.
Talks on PLDT's offer to buy the media firm ended in early October after the parties failed to arrive at "mutually accepted terms."
Gozon said then that legal and commercial matters, not price, weighed on the discussions.
Before talks were terminated, Pangilinan's group had gone as far as arranging the funds for the purchase, which was estimated to cost anywhere between P50 billion and P60 billion. - Rappler.com