MANILA - The Philippine Competition Commission on Friday approved the acquisition by Robinsons Retail Holdings Inc of shares in Rustan Supercenters Inc.
The acquisition does not result in a substantial lessening of competition in the relevant market, the Philippine Competition Commission said in its decision dated Aug. 16th.
"There are sufficient competitive constraints remaining from other market participants, post-transaction," it said.
Robinsons Retail earlier said the acquisition is in line with the Gokongwei group's retail business expansion.
-- with a report by Warren De Guzman, ABS-CBN News.