Business and Economy
PLDT: Globe takeover to result in ‘unfair’ competition
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MANILA – Globe Telecom’s acquisition of Bayan Telecommunications Inc. (Bayantel) would result to an “unfair” competition, according to Philippine Long Distance Telephone Co. (PLDT).
PLDT, the country’s biggest telecommunications was able to obtain a temporary restraining order from the Court of Appeals bloking the acquisition of Bayantel.
The company restated their statement in the order saying that it “has a clear right to be protected.
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“It is the position of both PLDT and Smart (Communication) that the arrangement circumvents pertinent laws and regulations regarding the assignment, allocation, or use of radio frequencies that call for the public auction of the contested radio frequencies which remained idle for over 10 years,” PLDT said.
“It should be noted that Bayantel’s franchise also specifically prohibits the transfer, sale or assignment of any right or privilege granted to it without the approval of Congress,” PLDT added.
This is following Globe’s earlier statement that PLDT’s attempt to block the takeover will delay the improvements aimed at about 350,000 Bayantel customers.
