MANILA – The Philippine Competition Commission asked the Court of Appeals on Wednesday to reverse its decision that stopped the anti-trust watchdog from reviewing a P70-billion telecommunications deal.

The court had sided with Philippine Long Distance Telephone Co. and Globe Telecom Inc., who said that their acquisition of San Miguel Corp.’s telecommunications assets was “deemed approved” after it notified the PCC of the transaction.

But the Solicitor General, which represented the PCC, said the review was within its powers and functions. The acquisition effectively stopped the entry of a third player in an industry notorious for one of the world slowest internet connections.

By stopping the review, the court “erred in not balancing the paramount public interest,” the chief government lawyer said.

The two telecom giants do not run the risk of “grave and irreparable injury” because of the review, it said.

PLDT and Globe had argued that access to San Miguel's 700 mhz frequency would help improve internet speeds. San Miguel sold its telecommunications business after joint venture talks with Australia's Telstra fell through.