PLDT-Globe buyout of SMC telco still up for review

The Philippine Competition Commission insisted Friday that the P70-billion acquisition of San Miguel’s telco assets by PLDT and Globe Telecom was not deemed approved and would now be subjected to a “comprehensive” review.

READ: PLDT, Globe buy SMC telco for P69B

PCC said such a 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.”

READ: After SMC telco buyout, PLDT-Globe duopoly continues

“The review is intended to ensure that the transaction will, in the end, result in sustained gains for the public by not restricting competition,” the PCC said.

A Globe official said they would be reviewing their options moving forward while PLDT has yet to comment.