Estrada vs. Yuchengco



Former President Joseph "Erap" Estrada is set to file a libel case against tycoon Alfonso Yuchengco on Thursday, following the latter's claim that he was forced to sell his stake in a company that had shares in Philippine Long Distance Telephone Co. (PLDT).


On Tuesday, Alfonso confirmed that he was pressured to sign conveyance of his shares in Philippine Telecommunications Investment Corp. (PTIC) to Metro Pacific Investments Corp. (MPIC), the local unit of Hong Kong's First Pacific Co. Ltd.

"Former President Joseph Estrada, through his lawyers, will be filing a libel case against Mr. Alfonso Yuchengco tomorrow at 10:00 a.m. at the San Juan Prosecutor's Office," Margaux Salcedo, Estrada's spokesperson, said in a message to the media on Wednesday.

In a privilege speech on Monday, Sen. Panfilo Lacson said Estrada used the Philippine National Police to "harrass" Yuchengco by threatening to arrest his youngest son and namesake, Alfonso "Tito" Yuchengco III.

Lacson mentioned the PLDT-related transaction in 1998 in his speech to highlight how Estrada allegedly used the police for private gain back when he was president.

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