PCC issues Preliminary Statement of Concerns on PLDT, Globe acquisition of San Miguel telco assets


The Philippine Competition Commission on Thursday issued a preliminary statement of concerns on the joint acquisition of PLDT and Globe Telecom of Vega Telecom, Bow Arken Holding Company and Brightshare Holdings Corporation.

PLDT and Globe Telecom plan to jointly roll out San Miguel’s assets after each acquiring a 50% stake in the business worth P70 billion. The acquisition cost includes P17 billion in debt, the companies said. 

In its preliminary statement of concerns, the antitrust body said that it must determine whether the PLDT-Globe acquisition is expected to substantially prevent, restrict, or lessen competition within any marker or markets in the Philippines for goods and services.

Preliminary Statement of Concern - PCC