Phillipines: PLDT, Globe call on antitrust watchdog to open dialogue

The Philippines’ largest operators PLDT and Globe Telecom have called on the country’s antitrust watchdog to shed light on any issues it may have regarding the joint buyout of San Miguel Corp’s telecoms assetsand asked for a meeting to resolve uncertainties.

A joint letter to the Philippines Competitive Commission said: “We express our willingness to cooperate with the commission to settle the issues surrounding the transaction, having in mind the tremendous benefit that the public will gain from the immediate unlocking of the advantages of the underutilised frequencies underpinning the transaction.”

PCC said last week it was conducting a “comprehensive review” of the deal, after it asked the operators to re-submit filings made following the $1.5 billion acquisition. The agency indicated that the operators may have failed to comply with the guidelines of the Competition Act, but offered no details and said it was under review.

The newly-created antitrust agency said that the operators’ filings were “deficient in form and substance” and requested them to re-submit their notices. It issued a statement that said merely filing a notice of the transaction doesn’t mean it’s “deemed approved”.

Complicating the issue, the PCC released new regulations for the Competition Act in early June, just a few days after the SMC deal was signed.

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