Listed conglomerate JG Summit Holdings Inc. confirmed that it is in talks with another publicly listed firm, San Miguel Corp., regarding SMC’s stake in the country’s largest power distributor, Manila Electric Co. (Meralco).

“JG Summit Holdings Inc. is in talks with San Miguel Corp. with respect to its interests in Manila Electric Co.,” the Gokongwei-led company said in a disclosure to the Philippine Stock Exchange on Wednesday.

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