The Court of Appeals (CA) has affirmed the legality of Globe Telecom and PLDT’s purchase of San Miguel’s telecommunication assets, dealing blow to an anti-trust body’s bid to review the multi-billion peso deal. The PCC has since elevated its bid to review the deal to a higher court, in April of this year asking the Supreme Court to step in and allow the review. In the latest decision, the CA division ruled that “premises considered, the petitions filed by petitioners Philippine Long Distance Company (PLDT) and Globe Telecoms, Inc. are hereby granted,” it ruled. Concerns over the deal center on Globe and PLDT’s continuing dominance amid complaints over the state of telecommunications services in the Philippines. San Miguel was looking to challenge the duopoly but was forced to drop out after partnership talks with Australia’s Telstra fell through.

Source: Manila Times October 22, 2017 16:52 UTC