{
  "id": 12839362,
  "title": "Meralco: MVP group closes in on 50%",
  "url": "https://urgent.news/2026/10/08/meralco-mvp-group-closes-in-on-50",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-08T08:33:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/stock-commentary/2026/10/08/2561814/meralco-mvp-group-closes-50"
  },
  "original_language": "en",
  "account": "Meralco's MVP group has nearly reached the 50% threshold in its stake, according to report. SMGP sold 3.77 million MER shares to Manuel V. Pangilinan for P580.99 per share, totaling P2.19 billion. This sale, coupled with MPIC's previous P12.4 billion purchase, has brought the MVP group's stake to 49.7% and SMGP's to 1.9%. The two transactions have nudged the MVP group just below the 50% mandatory tender offer limit, with MPIC holding 49.4% and MVP personally 0.34%. Most significantly, the group is purchasing MER at around 40% above its current market price, indicating strong confidence in the company's strategic value and hinting at a potential undervaluation in the market. The remaining 1.9% held by SMGP leaves room for further ownership changes. SMGP plans to use the proceeds from the sale for renewable energy projects. AB Capital Securities has rated MER as \"Outperform.\" The transactions reaffirm MVP's long-term commitment to the utility, but AB Capital does not view the transactions as an immediate earnings catalyst. The rate reset and resolution of system-loss recovery remain critical for any significant valuation shift.",
  "summary": "SMGP is selling 3.77m MER shares (0.33%) to Manuel V. Pangilinan personally at P580.99/sh, or P2.19 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}