Philippine government plans to raise its PNB stake

Philippines - The Philippine National Bank has said the government planned to increase its stake in the ailing bank, but wasn't keen on taking a majority shareholding. The government, which now holds 16% in PNB, wants to boost its stake through a debt-to-equity plan and by purchasing a part of the 67% interest businessman Lucio Tan has in the bank. The government plans to convert part of its 25 billion pesos ($492.1 million) in emergency loans to the bank into equity, increasing its stake pri