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Philippines: Antitrust body puts brakes on telco deal

By  |  June 19, 2016

The Philippine Competition Commission stood its ground against PLDT and Globe Telecom, saying their joint P70-billion deal to acquire a telco rival would not be approved until a full review was completed.

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    The newly created antitrust regulator said the welfare of the public was at stake in this consequential deal.

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    PCC said on Friday it would pursue a “comprehensive” review of the transaction to acquire San Miguel Corp telecommunications assets held through Vega Telecom.

    “A comprehensive review includes a determination of the relevant market, whether there will be substantial changes to the market structure, and the potential impact of the transaction on public welfare,” the PCC said in a statement.

    The move could spark legal action from PLDT and Globe, which argued the transaction was already deemed approved, based on the PCC’s own “transitory” guidelines.

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