The Philippine Competition Commission ordered Urban Deca Homes Manila Condominium Corp. and parent company 8990 Holdings Inc. to comply with the antitrust law, marking the closure of the first abuse of dominance case in the country.
The commission approved the terms of settlement proposed by the companies to break the exclusivity between Urban Deca Homes and in-house internet service provider Fiber to Deca Homes in nine projects across the country.
The firms were ordered to immediately stop their abusive activities, pay a fine of P27.11 million within 30 days and comply with the terms and conditions of settlement. They will be monitored regularly for compliance and subjected to further fines and penalties for any breach.
“This is a landmark case for the PCC that successfully resolved to stop an anticompetitive practice, restore competition in the affected market, and set as example to deter other businesses from employing similar exclusive dealings,” said PCC chairman Arsenio Balisacan.
