Maharlika says gov't takeover of Petron unnecessary but it's keeping options open

MANILA, Philippines — The chief of Maharlika Investment Corp. (MIC) is not dismissing any potential investment in Petron Corp. but said that any move should go beyond current market whims, as he sees government takeover as unnecessary. Rafael Consing Jr., who heads the country’s sovereign wealth fund worth P125 billion, said MIC stood united with the government in exploring options to help beef up the country’s energy sector, now gripped by concerns over supply constraints and cost spikes. However, he said that pushing for a corporate buy-in without a “broader strategic thinking is an inefficient use of sovereign capital.” “Exploratory discussions […]... Keep on reading: Maharlika says gov't takeover of Petron unnecessary but it's keeping options open

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