The Philippine Competition Commission said Tuesday it is close to issuing a decision on SM Investments Corp.’s acquisition of Goldilocks Bakeshop.
PCC commissioner Stella Quimbo said the agency was nearing the end of the 60-day investigation and could close the case as soon as SM issued a response on the statement of concern sent by the agency.
“The main concern here is how will the vertical relationship between SM and Goldilocks will be once the merger is approved,” Quimbo said in a news briefing in Makati City.
Another potential concern pertains to how SM will relate to competitors of Goldilocks and their ability to lease out spaces in SM Malls where Goldilocks is present.
Competitors are also prey to information breach following a mall management protocol on payment operating system where SM can view all the tenants sales and even the prices of their products, Quimbo said.
“Payment operating system is a centralized system that SM would have and which would allow SM access to very detailed information on sales, pricing, etc. not only for Goldilocks which it will own after the transaction but all the competitors to the extent that it will give undue advantage to SM,” Quimbo said.