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San Miguel sacrifices mobile dream to Philippine politics

San Miguel President Ramon Ang speaks to reporters on May 31, the day after announcing his company will sell off its telecom business.

MANILA -- San Miguel is arguably the most audacious Philippine company. Once a food and beverage maker, in recent years it has been getting into industries it had no prior experience in. This past week, its expansion mode shifted to better suit the economic priorities of an incoming government and the country's changing competitive environment.

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