November 29, 2017 / 3:48 AM / a year ago

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

MANILA (Reuters) - The Philippines’ San Miguel Corp (SMC.PS) is looking to bid for Vietnam’s largest brewer Sabeco SAB.HM, 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.

(The story corrects foreign ownership cap to 49 percent, from 39 percent, in third paragraph.)

Reporting by Neil Jerome Morales; Editing by Manolo Serapio Jr.

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