PCC asks High Court to lift TRO on review of telco deal
The Office of the Solicitor General has petitioned the Supreme Court to lift the injunction on the Philippine Competition Commission (PCC)'s review of the R69.1-billion sale of San Miguel Corporation (SMC)'s telco assets to the country's telecom duopoly, PLDT and Globe Telecom.
"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," PCC chairman Arsenio M. Balicasan yesterday told reporters in his press conference.
PLDT sought an injunction against PCC to halt the review, which the 12th Division of the Court of Appeals granted.
Now, after raising the issue to the SC, "We like to send a strong message to consumers and businesses that the PCC — as the country’s primary competition authority — will not back down or be intimidated by companies who have grown accustomed to unregulated business practices," he stressed.
From Day 1, the PCC chairman accused PLDT and Globe of "resisting scrutiny" of the deal in question.
"PCC stands by its position to prioritize the public interest in evaluating the competition concerns in every merger or acquisition deal that falls within its jurisdiction," he maintained.
"We must not lose sight of our main goal, that is to preserve a level playing field for incumbent and prospective players in the telco industry."
Aside from asking the Supreme Court to dissolve the writ of preliminary injunction issued by the CA 12th Division against the commission, the latter also seeks to stop PLDT from proceeding with the final payment to SMC, or performing any action to complete the deal.
That is, until PCC has concluded its review.
"If our local companies want to be global players, they need to abide by PCC's rules. PLDT and Globe should be no exception," Balicasan argued.
"The current legal challenge to PCC’s regulatory authority is a familiar scenario faced by competition authorities worldwide," he lamented. "Remember, companies all over the world have learned to faithfully comply with competition regulations and M&A review procedures."