Filipino Court Allows Petron Share Issue To Proceed Despite LegalChallenge
The Philippine Supreme Court allowed the public share offering of 20% ofPetron Corp., the refining and marketing subsidiary of state-owned PhilippineNational Oil Company (PNOC), to proceed as planned on 18 July despite aneleventh-hour petition to block the issue filed by six legislators (MEES, 18July). The petitioners have also asked the court to void the sale of 40% ofPetron to Saudi...
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