Arroyo leader denies extortion attempt

Arroyo leader denies extortion attempt

PHILIPPINES: President Gloria Arroyo on Monday rejected allegations that she attempted to force a businessman to sign over to her majority control of his telecommunications company.

Businessman Pacifico Marcelo has alleged that senior Arroyo aides in August had asked him to transfer to the president a 51 percent stake in his start-up, Philippine Communications Clearinghouse Inc. (PCCI).

The Senate blue-ribbon committee has said it plans to investigate the corruption allegations.

In April, Arroyo had vetoed legislation that would have given the PCCI franchise to act as a clearinghouse for telecommunications firms wishing to interconnect their services. --AFP