An adverse antitrust finding has weighed on Universal Robina Corp. (URC) but the Gokongwei-owned food and beverage firm’s share price is now at its highest since the start of 2019, albeit some way off from returning to peaks posted at the start of last year.
URC traded lower from for four straight days beginning January 25, losing nearly P4 per share, after the Philippine Competition Commission (PCC) rejected the firm’s voluntary commitments related to its purchase of Central Azucarera Don Pedro Inc.’s sugar milling and refining assets.
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