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Cosmos speculation continues

Speculative punting on the Manila markets around RFM Corp.“s plans for its soft drink unit Cosmos Bottling Corp. continued as Philippine stocks drifted lower on 4 July, shedding early gains, as the c…

Speculative punting on the Manila markets around RFM Corp.“s plans for its soft drink unit Cosmos Bottling Corp. continued as Philippine stocks drifted lower on 4 July, shedding early gains, as the continued deterioration in the peso played on investor nerves, traders said. There has been ongoing speculation that San Miguel Corp. and PepsiCo, Inc are both seeking to acquire a stake in Cosmos, although RFM has said it was not actively seeking partners. RFM stock finished up eight centavos at PHP 1.72 and Cosmos was up 10 centavos at PHP 4.40.

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