And the Chamber of Commerce, the NTUCB, the National Evangelical Association and the Independent Senators and the media have all characterized the proposed SMART acquisition as a deal primarily designed to benefit the private shareholders - including the Briceno family.
But, the PM rejected the characterization that the proposed acquaint is a SMART bailout:
Reporter
"You're asking the people to bail out Smart."
John Briceno, Prime Minister
"I don't know where you get this idea about bailing out, but this kind of consolidation happens everywhere all over the world. It happens all the time in the United States - companies are buying up one another and everything, everything is managed by regulation."
Reporter
"They're trying to hoodwink us by saying that a trust owns the majority and that trust is in the benefit of the people but what benefits have come from trust from that group?"
John Briceno, Prime Minister
"I think what we have on the issue of the trust and you need to speak with a group. I cannot speak on their behalf."
