Duterte’s Water War Foe Seeks Cover Through Sale
Ayala Corp, under fire from the president, sells interest to connected tycoon
![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6255451a-47cc-4673-a885-b4c65b7f3b43_640x372.jpeg)
The Feb. 3 decision by the beleaguered Ayala Corporation-led Manila Water Company to sell 25 percent of the company to one of the country’s richest men, Enrique “Ricky” Razon Jr, appears to be a prudent move to seek cover from the unrelenting hostility of President Rodrigo Duterte, sources in Manila say.
In a statement to the Philippine Stock Exchange, R…
Keep reading with a 7-day free trial
Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.