Manila Electric Loses $2 Billion Value as Reform Plan Weighs

Manila Electric Co. shares extended their decline to a fourth day, erasing about 127 billion pesos ($2 billion) in market capitalization amid growing concern that a proposal to eliminate a...

By Neil Jerome Morales · Bloomberg Markets

Manila Electric Co. shares extended their decline to a fourth day, erasing about 127 billion pesos ($2 billion) in market capitalization amid growing concern that a proposal to eliminate a power charge for consumers could hurt the utility’s earnings.