MANILA, Philippines – Manuel V. Pangilinan, chair of TV5, said he will not comment further on the much-anticipated GMA-7 deal, which is expected to be sealed at the end of 2012.
In a press briefing on Thursday, August 9, Pangilinan just said funds for the acquisition of a stake in GMA-7 are ready.
“We’ve been asked not to comment any further,” he told reporters at the briefing of the financial results of conglomerate Metro Pacific Investments Corp (MPIC), which he also chairs.
When asked about the deal’s worth and if funds are ready for the deal, he simply nodded.
“Of course [the funds are ready],” he said, also declining to comment on how much will be borrowed.
Earlier, Pangilinan said he expects to complete the deal this year. This involves not just reaching an agreement with the controlling owners of GMA-7 on the deal’s terms, but also getting the approval of regulators.
“We have an appreciation of that deadline (end-2012) but the approvals process is beyond our control,” he said. – Rappler.com, with reports from Katherine Visconti
MVP says will shut up on GMA-7 deal
Manuel V. Pangilinan, chair of TV5, said he will not comment further on the much-anticipated GMA-7 deal, which is expected to be sealed at the end of 2012
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