MANILA, Philippines—Diversifying San Miguel Corp. announced Wednesday a share buyback program and issued a statement debunking rumors linking it to a commentary about a conglomerate at risk of default. "We would like to clarify that the conglomerate, which was the subject of the news article that referred to an International Monetary Fund report dated April as the source was not SMC. It is unfortunate that certain people have taken advantage of that information to fabricate and spread malicious stories and sow panic in the market to the detriment of our shareholders and the investing public, in general," SMC president Ramon Ang said in a statement. Ang...
Keep on reading: San Miguel offers to buy back shares
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