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Zobel says 'everything is calm' as Manila Water dialogues with gov't

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ABS-CBN News

MANILA -- Ayala Corp Chairman Jaime Augusto Zobel de Ayala said Thursday &quot;everything is calm&quot; at its utility arm, Manila Water Co, as it negotiates a new concession agreement with government.Manila Water recently took in port magnate Enrique Razon as an investor. The head of International Container Terminal Services Inc bought a 25-percent stake for P10.7 billion and secured a 51-percent voting interest.&quot;Everything is calm right now,&quot; Zobel told reporters.&quot;There is a lot of cooperation with MWSS at this point in time. There is a lot of dialogue,&quot; Zobel said, referring to the regulator, the Metropolitan Waterworks and Sewerage System.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/03/20/billionaire-razon-buys-25-percent-of-ayalas-manila-water">Billionaire Razon buys 25 percent of Ayala&#x27;s Manila Water</a></li>	<li><a href="https://news.abs-cbn.com/business/02/07/20/billionaire-razon-offers-to-buy-more-manila-water-shares">Billionaire Razon offers to buy more Manila Water shares</a></li></ul>The government moved to renegotiate Manila Water&#x27;s concession agreements with Manila Water and Pangilinan-led Maynilad Water Services Inc after President Rodrigo Duterte branded them as &quot;onerous.&quot;The water distributors dropped a combined P10.8 billion claim after the President&#x27;s statements. Manila Water and Maynilad sought compensation from Singapore-based arbitration court citing petitions for tariff hikes that were denied by government.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/08/20/new-maynilad-manila-water-deals-will-be-equitable-says-justice-chief">New Maynilad, Manila Water deals will be &#x27;equitable,&#x27; says justice chief</a></li>	<li><a href="https://news.abs-cbn.com/news/12/03/19/milked-by-billions-duterte-threatens-economic-sabotage-case-vs-water-distributors">&#x27;Milked by billions&#x27;: Duterte threatens economic sabotage case vs water distributors</a></li></ul><div>-- report from Warren de Guzman, ABS-CBN News</div>

Manila Water recently took in port magnate Enrique Razon as an investor. The head of International Container Terminal Services Inc bought a 25-percent stake for P10.7 billion and secured a 51-percent voting interest.

Manila Water recently took in port magnate Enrique Razon as an investor. The head of International Container Terminal Services Inc bought a 25-percent stake for P10.7 billion and secured a 51-percent voting interest.