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.
A 54-page decision penned by Associate Justice Ramon Bato and concurred with by fellow associate justices Manuel Barrios and Maria Eliza Sempio Diy, the CA’s Former 12th Division ordered the Philippine Competition Commission (PCC) to effectively approve the P69.1-billion sale, announced in May last year.
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