Indeed, when there is smoke there is fire. After two days of denying the issue, the company finally made an official statement which might accelerate MRC to an even higher position. I guess it will reach the ceiling again at today's PSE trading. Here's an excerpt from the
letter/disclosure issued to PSE dated 06 January 2009:
Yes, we confirm that there is an ongoing negotiation with Mr. Lucio Tan Jr. regarding a possible Joint Venture that will involve acquisition of a power plant. No other details are confirmed as of this time.
And to borrow from my fave Square Heads song, "I am so happy I met you (MRC)..."
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