PLDT/Globe-San Miguel Telco Deal Not Yet Approved

ThePhilippine Competition Commission (PCC) rejected Philippine Long Distance Telephone Company’s (PLDT) and Globe Telecom, Incorporated’s initial transaction report on their P69.1-billion deal to buy out San Miguel Corporation’s (SMC) telecommunication businesses because of incomplete information filed with the agency. The deal would allow PLDT and Globe access to 700-megahertz (MHz) frequencies, which they said, would help…

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