What does the main daily reduce it to? A family squabble.
Despite statements that all is well and that the family is still as tight-knit as ever, the Lopez family saga over the sale of most of the family’s shares in power distributor Manila Electric Co. (Meralco) to the Philippine Long Distance Telephone Co. (PLDT) group continues.
For the first time, Mike Lopez, son of Meralco chairman and chief executive Manuel Lopez, lashed back at people who say his father had known about the decision to sell down the family’s Meralco stake from day one.
“We were not privy at all to the negotiations from day one. Saying that we were, is a grave injustice to my dad’s name,” he told the Philippine Daily Inquirer in a telephone interview Wednesday.
