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Philippine: Telcos seek to stop regulator reviewing $1.5 bln deal

By  |  July 12, 2016

The Philippines’ two largest telecom firms on Tuesday sought to stop the competition regulator from reviewing a $1.5 billion deal inked with conglomerate San Miguel Corp which critics said could strengthen their market dominance.

Philippine Long Distance Telephone and Globe Telecom Inc separately asked the Court of Appeals to stop the Philippine Competition Commission from scrutinising the deal to buy San Miguel out of the sector, officials at the two companies said.

Ray Espinosa, PLDT regulatory affairs head, said in a statement to reporters that the deal is “deemed approved” under the regulator’s own rules.

Full Content: Economic Times

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