Some of PH richest in talks for deal on Lucio Tan bank

Conglomerate Ayala Corp.’s corporate strategists surely have their hands very full with ongoing deal talks being announced one after the other. After either a sealed deal or preliminary deal talks with strategic partners in rail, airport, power plant, media and telecommunications, the country’s oldest bank confirmed it is also pursuing a majority stake in Philippine National Bank (PNB), a commercial bank acquired by the second richest man in the country from the government in the 1990’s. If this bank merger or acquisition will proceed, Ayala-led Bank of the Philippine Islands (BPI), can retain its previous claim to being the country’s biggest bank. Sy-led Banco de Oro zoomed past BPI and Ty-led Metrobank about 7 years ago, when the Sy-led bank gobbled up Equitable Bank.


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