Monsters still, but prettier; Conglomerates in developing countries.(Globalisation is forcing conglomerates in poor countries to change)(Philippines' Ayala Corp. becoming a model of refocusing)

From: The Economist (US) | Date: January 5, 2002 | Copyright information

Globalisation is forcing conglomerates in poor countries to change

JAIME AUGUSTO ZOBEL DE AYALA, chief executive of Ayala Corporation, the largest conglomerate in the Philippines, is rare among Asian tycoons for his willingness to ponder the imponderable. Every so often, he discusses with his brother, father and Ayala's other directors whether they should break their conglomerate up. After all, Ayala owns, among other things, the Philippines's most profitable property de...

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