FILE PHOTO: Philippine President Rodrigo Duterte attends a plenary session at a regional summit in Bangkok, Thailand, November 2, 2019. REUTERS/Athit Perawongmetha/File Photo
MANILA (Reuters) - The Philippines' water regulator said on Wednesday it has cancelled the 15-year extension of concession deals it signed with the country's two largest utilities after pressure from President Rodrigo Duterte.
Duterte described the concession agreements with Manila Water Co Inc and Maynilad Water Services as "onerous and disadvantageous" to the public, prompting them to be revoked in a move that could turn off investors at a time the government is seeking foreign capital to modernise its infrastructure.
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