A PYMNTS Company

Philippine Watchdog Ups Merger Review Requirements

By  |  September 18, 2022

The Philippines is looking to require prior approval for more mergers and acquisitions as it seeks to expand its reviews of transactions to better protect consumers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Dozens of companies in the past two years were exempted from notifying the antitrust body and seeking approval for takeovers and mergers, as part of a government effort to encourage and fasttrack deals during the pandemic.

    But effective Friday, mergers and acquisitions above 2.5 billion pesos ($43 million) are subject to review, the Philippine Competition Commission (PCC) said in a statement.

    Companies with more than 6.1 billion pesos ($106.35 million) in assets or revenues engaging in such deals must also seek PCC approval.

    Those compare to a much larger deals threshold of above 50 billion pesos ($871 million) that was introduced for a two-year period from September 2020.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.