SAN MIGUEL president Ramon Ang and PLDT chairman Manuel V. Pangilinan met one-on-one last month, prior to the spectacular run-up in the share price of the Manila Electric Co.

MVP confirmed that he had asked for the meeting with Ang—whose San Miguel stake along with San Miguel chairman Eduardo Cojuangco Jr.’s the PLDT boss had nearly acquired during the Ramos years—but declined to disclose what he and his rumored fierce competitor had discussed.

“Friendly and productive” was how MVP described the meeting, echoing the same touchy-feely tone that Ang had resorted to when asked by reporters earlier, describing MVP as a “good man.”

According to stockbrokers’ chatter, MVP has already secured enough shares and proxies to elect himself a Meralco director in alliance with the Lopezes, thanks to a three-month buying spree executed by MacQuarie Capital Securities.

The Lopezes currently control four board seats in the 11-member Meralco board, with the San Miguel block holding another four.

Incidentally, the MacQuarie acquisition coincided with similar, concerted purchases made in the open market by stockbroker Vivian Yuchengco’s First Resources Management and her allies Philippine Equity Partners, Deutsche Regis Partners, and Vicsal Securities.

Yuchengco was coy when reached yesterday, volunteering only that her purchases were made “on behalf of a client,” but definitely not the Lopezes.

Boracay for P20,580 a night

That, no kidding, is how much a guest would have to spend if he decides to book tonight at the Shangri-La’s Boracay Resort and Spa through its Web site.

The price does not yet include the 10-percent service charge, the 12-percent value-added tax, and the 0.5-percent local tax that would all be tacked on to the room rate.

Rooms at the Shangri-La’s newest hotel, which has been on a “soft-opening” mode since March 2, measure a generous 60 square meters, nearly 58 percent bigger than the 38-sq. m. “superior” rooms at the Makati Shangri-La.

Incidentally, a room booked for tonight at the Makati Shang Web site would cost P10,000, plus taxes and charges.

Heard through the grapevine

Efforts to amicable settle the fight between Marcos son-in-law Gregorio Araneta III and the Panlilios of Puerto Azul over the Luneta Hotel property apparently have failed.

Not only will the Marcos syndicated estafa complaint against their former favored hoteliers push through, Araneta has even secured hold-departure orders against the Panlilios.

(Web site: www.cocktales.ph; e-mail: cocktales_mst@pldtdsl.net)