Lopez Holdings


Lopez family denies deal with GMA
The Lopez family today strongly denied persistent reports that they had reached some kind of deal with President Arroyo in relation to Meralco and Maynilad and Sen. Noli de Castro running with her for vice president.

Speaking through brothers Oscar and Manolo, sister Presy and nephew Eugenio III (Gabby), the Lopez family denounced attempts by some parties to make them the convenient whipping boys in todays charged political environment. "It is grossly unfair to demonize us just so some politicians can win populist brownie points," Oscar Lopez, Chairman of the Lopez Group, said.

"The Meralco rate increase, the first real increase since 1994, had been modest and underwent scrutiny by the Energy Regulatory Commission," Manolo Lopez, Meralco Chairman said. As for Maynilad, Mr. Lopez pointed out, "the Arroyo administration through MWSS and the Justice Department has given us no quarters. Temporary relief was granted us by the Quezon City Regional Trial Court."

On the matter of Sen. De Castro, Gabby Lopez, Chairman of ABS-CBN said it is not within his power, nor the familys, to deliver him to President Arroyo as a running mate. "Sen. De Castro makes up his own mind and it is insulting to think that we can make him run with the President or with anybody or even run at all if he is not inclined to."

Oscar Lopez said "All we ask of government, politicians and media is fair treatment. While we have large financial obligations, nevertheless, we have nothing to be ashamed of. We did not steal from the people, we did not cheat the government. In fact, even in the case of the Meralco refund, we did not collect anything than what was approved by the government agencies involved."

He also pointed out that "among the conglomerates, we are the only one that went into much-needed utilities and infrastructures businesses in such a massive way even as we have poured all our resources only on investments within the Philippines or to benefit Filipinos abroad." 

Mailing List

Please enter your email address to join our mailing list and receive our corporate updates.


Lopez Holdings Corporation 
16/F North Tower, Rockwell Business Center Sheridan, Sheridan St. corner United St., 1550 Bgy. Highway Hills, Mandaluyong City, Philippines

  • Trunkline: (632) 8878 0000
  • Fax: (632) 8878 0000 ext 2009
You are here: Home 2003 Lopez family denies deal with GMA