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Business deals

Philippine infrastructure king decides to go private

Metro Pacific's Pangilinan seeks freedom to pursue new businesses

Manuel Pangilinan, chairman and president of Metro Pacific Investments Corp., plans to delist the group after a tender offer closes in June. (Photo by Lester Babiera)

MANILA/TOKYO -- Manuel Pangilinan, chairman and president of Philippine infrastructure giant Metro Pacific Investments Corp., is fed up with being undervalued by the stock market.

"How can you raise equity money at a very low share price?" Pangilinan asked reporters at a quarterly earnings briefing on May 3.

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