The Philippine Competition Commission issued guidelines in resuming its regular merger review operations in anticipation of more activities in the modified general community quarantine.
“With the pandemic, Philippine markets will witness changes and restructuring in the form of mergers, consolidations, or even exit of firms. It is during this period that the PCC must watch out through proper merger review for risks of concentration or rise of virtual monopolies to protect consumer welfare,” said PCC chairman Arsenio Balisacan.
The commission adopted the interim guidelines on the operations of its Mergers and Acquisitions Office during GCQ and MGCQ for the notification and review of merger and acquisition transactions; payment and collection of filing fees; and investigation of M&A transactions that may be in violation of the Philippine Competition Act.
The commission will continue digital and alternative arrangements for the timely and efficient conduct of merger reviews and investigation functions.