PCC asks SC to lift CA order halting review of SMC-PLDT-Globe telecom deal

The Philippine Competition Commission (PCC) has asked the Supreme Court (SC) to lift an injunction halting a review of the P69-billion co-acquisition deal covering San Miguel Corp.'s (SMC) telecom assets by PLDT Inc. and Globe Telecom Inc.

"Yesterday, the Office of the Solicitor General filed on behalf of the PCC a petition before the Supreme Court to lift said injunction which halted PCC's review of the P69.1-billion telco deal," PCC Chair Arsenio M. Balisacan said in a briefing in Pasig City on Wednesday.

The Court of Appeals 2th Division stopped the antitrust commission from the reviewing the deal the companies announced in May of last year.

In May 2016, Pangilinan-led PLDT Inc. and Ayala-led Globe Telecom Inc. announced the buyout of SMC's telecom business that included the coveted 700 megahertz spectrum.

"By this petition, we elevate the matter to the highest court of the land to finally allow us to fulfill our legal mandate in the interest of promoting competition in the telco market," Balisacan said.

PLDT decline to make any statement at this point. "We are deferring comment 'til we get a copy of the PCC petition," PLDT Spokesperson Ramon R. Isberto said.

The petition aims to accomplish three significant aspects related to the transaction.

"First, we have asked the Supreme Court to dissolve the writ of preliminary injunction issued by the CA 12th Division," the PCC chair noted.

"Second, we sought to stop PLDT from further proceeding with the final payment or performing any action from the consummation or implementation of the acquisition while the case is ongoing," he said.

"Third, those two actions will allow PCC to finally fulfill its legal mandate to continue its review of the ... deal," he added.

PCC Commissioner Johannes Benjamin R. Bernabe noted the petition does not cover or include Globe Telecom.

"Globe was not included in this petition because, if you recall, the Sixth Division of the Court of Appeals denied the petition of Globe against PCC," he said.

The CA dismissed the petition for certiorari and prohibition, with an application for a temporary restraining order (TRO) in July 2016. It then allowed the cases to be consolidated in August.

Balisacan said the PCC is not trying to stop the deal, but to pursue a review of the transaction. — VDS, GMA News