November 29, 2017 / 3:37 AM / a year ago

CORRECTED-Philippines' San Miguel says looking to bid for Vietnam's Sabeco

(Corrects foreign ownership cap to 49 percent, from 39 percent, in third paragraph)

MANILA, Nov 29 (Reuters) - The Philippines’ San Miguel Corp is looking to bid for Vietnam’s largest brewer Sabeco , the conglomerate’s president said on Wednesday.

“Yes,” Ramon Ang told Reuters in a text message when asked if San Miguel is looking to join the bidding for the Vietnamese brewer.

Vietnam said earlier on Wednesday it is open to selling a 54-percent stake in Saigon Beer Alcohol Beverage Corp, but capped foreign ownership at about 49 percent. (Reporting by Neil Jerome Morales; Editing by Manolo Serapio Jr.)

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