Bourse withdraws PDS merger notice

THE Philippine Stock Exchange (PSE) has withdrawn a merger notification—filed with the Philippine Competition Commission (PCC)—given the acquisition of a controlling interest in Philippine Dealing System Holdings Corporation (PDS).

“Basically, the IRR or the implementing rules and regulations of the PCC—if you buy 35 percent of the company, you have to make a filing … If you buy more than 50 percent of the company, you must make another filing,” PSE President and Chief Executive Officer Ramon Monzon told The Manila Times.