Cheyenne Suarez

The Skyway NLEX Connector road between Espana  and Caloocan on March 29, 2023. Jonathan Cellona, ABS-CBN News

Article (news)

San Miguel confirms tollways merger with MPTC shelved

Arthur Fuentes

ABS-CBN News

MANILA -- The merger of the Philippines&#x27; biggest tollway operators has been deferred, San Miguel Corp confirmed in a disclosure to the stock exchange.San Miguel said, &quot;discussions on the proposed merger of the toll roads of Metro Pacific Tollways Corp and San Miguel Corp have been deferred, as advised by MPTC, through its Chairman, Mr. Manuel V. Pangilinan.&quot;San Miguel was reacting to a report on BusinessWorld on Monday that MPTC shelved talks on the merger as it was focusing on raising funds to pay down debt.Earlier this year, Pangilinan was also quoted as saying that the planned merger was &quot;complicated&quot; as MPTC needed to raise between P30 billion to P50 billion for the deal.In 2023, the two infrastructure giants said they were collaborating on further integrating their tollways.SMC Tollways operates the SLEX, Skyway, NAIAX, STAR Tollways and TPLEX. MPTC, meanwhile, operates the NLEX, SCTEX, CAVITEX, CALAX and other tollways.

The merger of the Philippines' biggest tollway operators has been deferred, San Miguel Corp confirmed in a disclosure to the stock exchange.

The merger of the Philippines' biggest tollway operators has been deferred, San Miguel Corp confirmed in a disclosure to the stock exchange.