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Manila Bulletin devider Business devider PCC resumes merger review

PCC resumes merger review

Published Jul 21, 2020 10:00 pm

The Philippine Competition Commission (PCC) has issued guidelines in resuming its regular merger review operations beginning 16 July 2020 amid the general community quarantine (GCQ) and in anticipation of the modified general community quarantine (MGCQ).

In its Commission Resolution No. 18-2020, the PCC adopted the Interim Guidelines on the Operations of its Mergers and Acquisitions Office during GCQ and MGCQ for the notification and review of merger and acquisition transactions; payment and collection of filing fees; and investigation of M&A transactions that may be in violation of the Philippine Competition Act.

Under the guidelines, the PCC shall continue digital and alternative arrangements for the timely and efficient conduct of its merger review and investigation functions.

The PCC shall consider requests for extension and waivers to allow notifying parties sufficient time to comply with requirements given the logistical and administrative challenges amid the pandemic.

“With the pandemic, Philippine markets will witness changes and restructuring in the form of mergers, consolidations, or even exit of firms. It is during this period that the PCC must watch out through proper merger review for risks of concentration or rise of virtual monopolies to protect consumer welfare,” said PCC Chairman Arsenio M. Balisacan.

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