The Philippine Competition Commission (PCC) has received numerous inquiries from the press about the purchase of San Miguel Corporation’s (SMC) telecommunications business by Globe and PLDT, which was publicized in the news on 30 May 2016.
It is within the powers of the Commission to evaluate all business agreements and transactions that may have potential impacts on market competition.
In view of the importance of this transaction to the public interest, the PCC will assert all of its powers as provided for in the law.
Because of the strong public clamor for faster, cheaper, and better quality internet and mobile services, and that these could be stymied by a lack of competition in the sector, the Commission has a keen interest in this proposed transaction.
The Commission shall assess and take action as appropriate.
We remind the public and the business community that the provisions of the Philippine Competition Act are fully in effect and do not require the final issuance of IRR to trigger effectivity.
The Commission will gather more information and details on the transaction, and until such time, shall refrain from commenting further on the potential effects of the subject transaction on competition.
We assure the public and the parties that the Commission recognizes the urgency of the matter and will move quickly to reach a fair assessment.
All of the Commission’s actions are directed by its mandate to advance consumer welfare and protect the public interest through promotion of fair competition.
The Philippine Competition Commission