The Philippine Competition Commission said it approved 92 notifications for 111 mergers and acquisitions worth P1.9 trillion.
PCC commissioner Stella Luz Quimbo said the agency reviewed about 111 notifications during the first phase and approved 92 mergers so far.
“We have the shortest review period compared to other jurisdictions like the US. But we make sure that everything is above board and that we follow the stringent screening of the commission,” she said Tuesday during the joint membership meeting of the Philippine Chamber of Commerce and Industry and the Management Association of the Philippines.
Companies with pending merger or acquisition worth P1 billion and above are required to file an application with PCC.
Quimbo said the threshold was significantly lower than in other countries “but these things we can revise.”