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Energy

Philippines' China-backed power grid operator avoids IPO

Owner of National Grid Corporation of the Philippines chooses to sell shares

The NGCP has the Philippines' electricity transmission network all to itself. (Photo from NGCP's Facebook page)

MANILA -- The majority stockholder of the Philippines' power grid operator, which has courted controversy over issues including Chinese ownership, is set to kick off a crucial share sale on Tuesday to comply with regulations.

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