Antitrust body issues guidelines for merger reviews under GCQ, MGCQ


Posted at Jul 17 2020 05:15 PM

Antitrust body issues guidelines for merger reviews under GCQ, MGCQ 1
The Philippine Competition Commission office in Quezon City. Mark Demayo, ABS-CBN News/File

MANILA - The Philippine Competition Commission said Friday the regular merger review operations would resume and has issued corresponding guidelines under general and modified general community quarantine.

Digital and alternative arrangements will be used for the "timely and efficient conduct of its merger review and investigation functions," the PCC said in a statement.

Requests for extension and waivers will be considered, it said.

“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.

“With the guidelines amid the community quarantine in place, PCC stands ready to enforce its merger review and investigation mandate during this critical period. This ensures that transactions do not substantially lessen competition in the market that might cause higher prices, fewer choices, or lower quality of goods and services,” he added.

The antitrust body reviews mergers and acquisition deals to guarantee that transactions would not result in lessening of competition in the sectors they are involved in.