THE Prieto family had offered to sell its 85 percent stake in the Inquirer Group of Companies to businessman Manny V. Pangilinan (MVP) but he declined due to competition concerns, a top Inquirer official said late Friday.
Pangilinan, chairman of the PLDT Group, already owns a 15-percent stake in the Inquirer through PLDT subsidiary MediaQuest Holdings Inc. MediaQuest owns 70 percent of BusinessWorld and 51 percent of The Philippine Star.
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