Last July 29, 2009 MER shares rose as high as 302.50, MACQUARIE SECURITIES a foreign broker known to be used by PLDT Group crossed 6.8 million shares. On the other hand, THE FIRST RESOURCES MANAGEMENT & SECURITIES CORPORATION a local broker which represented one of the local funds of SMC group crossed 6 million shares.
So, eventually MVP got control of Meralco, the above transactions explain.
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