A recent multibillion-peso trade involving this once-high-flying stock has market watchers curious about the looming entry of a new investor.
The deal was closed just short of the trigger that would require the company to disclose the buyer’s name, which only added to the mystery.
As it turns out, the reality is less dramatic, but no less intriguing.
Market insiders say the buyer is an entity linked to the same political figure, only this time he appears to be moving assets to a safe location, lest they be seized to partly cover hefty obligations.
Such moves are to be expected from a savvy political dynasty, although they come at the expense of taxpayers and the traditions of good governance.
Meanwhile, his current troubles are also proving to be a headache for his business partners, who are keen to bring in a like-minded investor who’s serious about growing the company.
The market is now waiting to see whether this politician’s maneuvers will clear the way for a new partner or whether it merely sets the stage for yet another twist.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
