The Manila Electric Co. (Meralco) has reduced by half its stake in Indra Philippines Inc. (Indra), a subsidiary of Spain’s Indra Sistemas S.A.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, Meralco said it disposed 24.96 percent or 84,012 common shares of stock in Indra to Metro Pacific Investments Corp. (MPIC).

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