Is RSA’s Inquirer buyout a no go?
Last year’s loss could have been a major turnoff.
The Philippine Daily Inquirer is holding its annual stockholders’ meeting in June, with no trace of updates on the planned takeover by bilyonaryo Ramon S. Ang.
Philippine Star columnist Victor Agustin wrote that the deal may have fallen through despite an aura of certainty when the buyout was announced a year ago.
The situation may have been aggravated by the newspaper suffering a P200-million loss in 2017.
“What we are trying to say is that it would take dogged forensic accounting to determine the actual financial health of the Inquirer Group, something similar to the due-diligence that RSA has apparently concluded and, well, we will just wait for Don Ramon (as columnist Bel Cunanan calls him) to make his next move,” read Agustin’s May 21 column, Money-Go-Round.
How will the Prietos sustain the business now? Stay tuned.