Duopoly stunt miffs antitrust body | Inquirer Business

Duopoly stunt miffs antitrust body

/ 12:20 AM June 01, 2017

The government’s competition watchdog called out the country’s telco duopoly for finalizing a consequential multibillion deal amid pending cases in court.

The Philippine Competition Commission (PCC) warned PLDT Inc. and Globe Telecom that they were still not exempted from the competition law, a day after the industry giants made their final installment for the P70-billion telco assets of San Miguel Corp. (SMC).

“Completing the payment for the telco assets is a move that unduly preempts the forthcoming rulings of the [Supreme Court and the Court of Appeals],” PCC said in a statement.

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PCC was quiet on what its next steps would be.

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The telcos paid SMC about P13 billion on Tuesday, the last tranche of the deal launched over a year ago amid protests from the newly formed watchdog. Armed with implementing rules fresh off the legislative machine, the PCC sought a relief from the highest court last April after a review of the deal was blocked by the Court of Appeals.

Noting its impact on public interest, PCC insisted it had a right to review the deal “to safeguard consumer welfare over the long term.”

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The telcos had argued that the deal should be “deemed approved,” citing the PCC’s own memorandum circulars supposedly already in effect by then.

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TAGS: duopoly, Globe telecom, Philippine Competition Commission (PCC), PLDT Inc., San Miguel Corp. (SMC)

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