BIZ BUZZ: SMC-MPTC tollway merger: What’s taking too long?

For now, the proposed tollway joint venture with San Miguel Corp. (SMC) is still pending but Metro Pacific Tollways Corp. (MPTC) chair Manuel Pangilinan wants to pick up the pace.

“We’d like to engage them. Everybody has reported the first quarter reports. Now, we can get back to work,” the Metro Pacific big boss told reporters on Thursday.

“If we gonna do it, we might as well do it as expeditiously as possible,” Pangilinan added.

The tollway operators have been in talks for quite some time now for the merger but are nowhere close to finalizing the details.

Pangilinan earlier said they would want to raise funds first to trim the company debts before proceeding with the transaction.

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Ahead of the merger, the companies are working on the 88-kilometer Cavite-Batangas Expressway and Nasugbu-Bauan Expressway.