A transparent container holds the submit...

Manila, PHILIPPINES: A transparent container holds the submitted bid of the group of Citadel Holdings Inc. and Terna SPA, Italian power firm (seen in the background) for the National Transmission Corp. (Transco) during the auction by the state privatization agency PSALM in Manila's suburban financial district in Makati 05 Feberuary 2007 that was declared a failure by PSALM. The Philippines again failed to privatize the operations of the country's power grid after only one of three bidders made a formal offer, officials said. The bidding was for a 25-year concession of operations of the the Transco, which has assets worth over 2.7 billion USD. Government now was mulling entering into a negotated deal with Citadel Holdings of the UK and Terna SPA , the only group that submited an offer at the auction, finance secretary Margarito Teves said. AFP PHOTO/ROMEO GACAD (Photo credit should read ROMEO GACAD/AFP via Getty Images)
Manila, PHILIPPINES: A transparent container holds the submitted bid of the group of Citadel Holdings Inc. and Terna SPA, Italian power firm (seen in the background) for the National Transmission Corp. (Transco) during the auction by the state privatization agency PSALM in Manila's suburban financial district in Makati 05 Feberuary 2007 that was declared a failure by PSALM. The Philippines again failed to privatize the operations of the country's power grid after only one of three bidders made a formal offer, officials said. The bidding was for a 25-year concession of operations of the the Transco, which has assets worth over 2.7 billion USD. Government now was mulling entering into a negotated deal with Citadel Holdings of the UK and Terna SPA , the only group that submited an offer at the auction, finance secretary Margarito Teves said. AFP PHOTO/ROMEO GACAD (Photo credit should read ROMEO GACAD/AFP via Getty Images)
A transparent container holds the submit...
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Credit:
ROMEO GACAD / Staff
Editorial #:
73205847
Collection:
AFP
Date created:
February 05, 2007
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Rights-managed
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Source:
AFP
Barcode:
AFP
Object name:
Hkg463947