Globe Telecom said it has asked the Philippine Competition Commission to be transparent to the public by stating their transitory rules prevailing when Globe, PLDT and San Miguel filed their notice last May 30. It is quite surprising that PCC has consistently evaded the issue that this transaction falls under Section 4 of PCC Memorandum Circular 16-02 that a mere filing of the notice to the PCC will render the transaction as “deemed approved”. Such notice filed by Globe, PLDT and San Miguel was in full compliance and contained the requirements of Section 2 of the said MC: a) parties to the merger or acquisition; b) the name and contact details of the authorized representatives of the parties; c) brief description of the businesses of the parties to the transaction; d) the type if transaction; e) the consideration; f) the key terms of the transaction; and g) the timing for [...]
