RP gets 27% of San Miguel

RP gets 27% of San Miguel

MANILA: A court ruling has delivered the government a major
victory in its fight to wrest control of Philippines food and
drink giant San Miguel Corp. from Eduardo Cojuangco, a key crony
of the late dictator Ferdinand Marcos, an official said on
Saturday.

The Sandiganbayan anti-graft court ruled that at least 27
percent of San Miguel Corp. belonged to the government of
President Gloria Arroyo and not to Cojuangco, the San Miguel
chairman.

It was a giant boost for Arroyo, 57, just ahead of
presidential elections on May 10 in which she is running for
another term against opposition candidate, movie star Fernando
Poe, 64, who is backed by many former Marcos men. -- AFP