GMR-Megawide venture challenges tycoons' Manila airport bid with $3b offer

GMR-Megawide venture challenges tycoons' Manila airport bid with $3b offer

Photo: Reuters

A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan.

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