After PAL deal, Tan and Cojuangco may forge other business tie-ups

AFTER forging a partnership over flag carrier Philippine Airlines, Philippine business tycoons Lucio Tan and Eduardo Cojuangco may engage in other tie-ups, their lawyer said Tuesday.

Estelito Mendoza, legal counsel of both Cojuangco and Tan, said in an interview with reporters the possibilities are there despite the obvious competition between their respective interests.

“There will be future areas of cooperation whenever they believe doing so will be good for them,” said Mendoza.

Cojuangco and Tan are “very good business people” who would pursue business cooperation amid their competing business interests, he added.

He cited the decision of Cojuangco’s San Miguel Corp. to infuse $500 million to buy a 49-percent stake in Tan’s PAL Holdings that controls PAL and Air Philippines.

Mendoza said the cooperation was a vote of confidence for two of the Philippines’ richest men.

“It is a matter of confidence. Both of them went into what is called a win-win situation, it is how each of them view the situation,” he added. (GMA News)

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