Perhaps if they can come back again to notify but with a different business model that they are proposing, maybe then they can renew it again,” he said. The PCC earlier raised competition concerns on URC’s proposed acquisition of CADPI and RHI’s assets. Following the competition concerns raised by the antitrust body, the parties voluntarily submitted commitments. The PCC, however, rejected the voluntary commitments offered by the parties as such were deemed insufficient to address the competition concerns raised. “URC accepts the PCC decision and affirms its commitment and support to the efforts of government for a strong market economy,” the company said.

Source: Philippine Star February 17, 2019 18:47 UTC