October 18, 2015 at 10:30 pm
Jenniffer B. Austria
Mizuho Financial Group of Japan recently ended talks on the possible acquisition of San Miguel Corp.’s controlling interest in Bank of Commerce reportedly due to disagreement over the price.
San Miguel, however, is not worried because it may have attracted a new potential buyer for its bank.
Sources said San Miguel and the new potential buyer had a one-on-one meeting during the recent Forbes Global CEO Forum at Solaire Resort & Casino in Parañaque City.
The new potential buyer was reportedly keen on acquiring a bank and San Miguel informed the potential buyer that it owns a bank (Bank of Commerce) which the conglomerate was interested in selling. As the saying goes when one door closes, another door opens. Jenniffer B. Austria