PLDT wants CA to stop antitrust body review of deal with Globe and SMC

PLDT Inc. has filed a petition for certiorari and prohibition with an application for a temporary restraining order (TRO) against the Philippine Competition Commission before the Court of Appeals.

"We received a copy of the petition today and will take action immediately," the antitrust commission said on Tuesday.

According to the PCC, PLDT wants to stop the commission from exercising its mandate to review the co-acquisition transaction with Globe Telecom Inc. over Vega Telecom Inc. —  a unit of diversified conglomerate.

"We are disappointed that they have decided to resort to a lawsuit against the PCC to prevent a comprehensive review of this deal," the commission said.

The PCC said it is working to complete the review as quickly as possible, but that PLDT in its recent action, have now sought to delay the resolution of an issue which is of great importance to public interest and welfare.

"We are confident that our courts will recognize the significance of protecting consumers and promoting competition in the market, and the authority of the PCC to independently exercise its mandate," it said. — VDS, GMA News