There was hardly a trace of the enmity arising from their costly battle for control of Manila Electric , or Meralco as the utility is known, when the heads of three of the Philippines’ biggest business groups sat together to face the press after being elected directors last week.

“My idols” was how Ramon Ang, president of the food and drinks giant San Miguel Corp, referred to Philippine Long Distance Telephone Co chairman Manuel Pangilinan and Meralco chairman Manolo Lopez, a member of the family that has run the utility for decades.