Duterte’s Water War Foe Seeks Cover Through Sale
Ayala Corp, under fire from the president, sells interest to connected tycoon
The Feb. 3 decision by the beleaguered Ayala Corporation-led Manila Water Company to sell 25 percent of the company to one of the country’s richest men, Enrique “Ricky” Razon Jr, appears to be a prudent move to seek cover from the unrelenting hostility of President Rodrigo Duterte, sources in Manila say.
In a statement to the Philippine Stock Exchange, R…
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