PLDT and Globe has brought the Philippine Competition Commission (PCC) to court over disagreements on the legality of the P70 billion deal with SMC. The telco giants filed a petition for certiorari against the PCC before the Court of Appeals and sought a temporary restraining order to enjoin the antitrust agency from investigating the high-profile deal that allowed PLDT and Globe to acquire SMC’s valuable radio frequencies.
Both PLDT and Globe argued that the deal was done before the implementing rules and regulations of the PCC were released. Hence, government approval was not required. The companies also claim that they have faithfully complied with the requirements for the deal by filing a transaction notice which was provided for by the transitory guidelines of the PCC.
However, the PCC maintains that the Philippine Competition Act, the law that created the antitrust body, was already in full effect since last year and that it was their duty to review the transaction given its great significance to public interest.
PCC, led by Chairman Arsenio Balisacan, said it was disappointed with the decision of PLDT and Globe to take the matter to court. PCC said it will only delay the resolution of the issue and would prevent a comprehensive review of the deal.
