PNB and BPI To Merge in a Huge Deal

News broke out today confirming rumors that Ayala-led Bnak of the Philippine Islands (BPI) and Lucio Tan's Philippine National Bank (PNB) is in talks of merger/acquisition to become the country's largest financial entity usurping Sy-led Banco de Oro Unibank in terms of assets. The confirmation was made through independent disclosures to the Philippine Stock Exchange(PSE) early Wednesday morning. BPI disclosure says: "We confirm discussions with the Lucio Tan...

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