Court rejects Globe’s TRO request against PCC
Yesterday, the Court of Appeals ruled that Globe did not have enough grounds to grant a temporary restraining order against the Philippine Competition Commission in its mandate to review the purchase of San Miguel’s telco assets to both Globe/PLDT.
The PPC published a release on their website regarding this development:
PRESS STATEMENT JULY 22, 2016
Globe Application for TRO and preliminary injunction against PCC Denied
The Court of Appeals has denied Globe’s application for temporary restraining order (TRO) and preliminary injunction against PCC’s review of its transaction with PLDT and SMC.
The undue haste exhibited by the parties to run to the courts to stop PCC’s review is now confirmed as unjustified. The court’s decision further serves to strengthen the PCC’s resolve to closely scrutinize this transaction and examine any possible adverse effects on public welfare.
The PCC remains hopeful that this development will encourage Globe and other parties concerned to cooperate with the PCC in the fulfillment of its mandate to safeguard free and fair competition.
PLDT also filed for a similar TRO last week but it will also likely to be rejected by the courts.