MERGED: Smart buys Digitel (Sun Cellular)

[ong76win2]

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The P74-B PLDT-Digitel deal

I can't post the entire article here because of copyright constraint. Please check the link below. Thanks

Source: The P74-B PLDT-Digitel deal - INQUIRER.net, Philippine News for Filipinos

[ong76win2]

Senators want Senate approval over PLDT’s Digitel acquisition
KIMBERLY JANE TAN, GMA News
04/04/2011 | 05:53 PM

Senators on Monday reminded Philippine Long Distance Telephone Co. (PLDT) that it cannot buy a majority stake in Sun Cellular operator Digitel Telecommunications Philippines Inc. without their approval.

Senate Minority Floor Leader Alan Peter Cayetano and Senator Joker Arroyo said that both telcos operate within the realm of a legislative franchise given by the Senate and the House of Representatives.

"Very strict ang nasa batas, na ang franchise ay hindi puwedeng ilipat nang walang congressional approval (What is in the law is very strict, that a franchise may not be transferred without congressional approval)," Cayetano said during Monday’s press briefing.

Arroyo likewise said that the National Telecommunications Commission and Securities and Exchange Commission cannot act on the deal between the two companies without their go signal.

"The operations of public utilities, like PLDT and Digitel, are coupled with a public interest. Congress has the duty to ascertain whether the transaction between PLDT and Digitel will serve the public interest," Arroyo said in a statement.

According to Section 16 of Digitel’s Congressional Franchise, the firm "shall not lease, transfer, grant and usufruct of, sell nor assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or other commercial or legal entity, nor merge with any other corporation or entity nor shall the controlling interest of the grantee be transferred, whether as a whole or in parts and whether simultaneously or contemporaneously, to any such person, firm, company, corporation or entity without prior approval of the Congress of the Philippines."

Section 20 of the same franchise says that it is "subject to amendment, alteration or repeal by the Congress of the Philippines when the public interest so requires and shall not be interpreted as an exclusive grant of the privileges herein provided for."

Arroyo noted, however, said that they are not saying that PLDT is not "fit" to operate the merged companies because "empirically they are competent."

PLDT already owns Smart Communications Inc., Connectivity Unlimited Resource Enterprise Inc. (Red Mobile), and Pilipino Telephone Corp.

Cayetano explained that they just need to determine the overall effects of the acquisition on the market and the consumers.

The Senate committee on public services earlier ordered the NTC to study the possible effects of the deal. — VS, GMA News

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[Generals]

is Liberty Telecom a new company coming in?

[ong76win2]

[QUOTE=Generals;9718516]is Liberty Telecom a new company coming in?[/QUOT

Liberty Telecom was in the telecom industry here before but a small one. Remember those red pay phones before. They are from Liberty Telecom if I am not mistaken.

I don't know what name San Miguel would be using when it will come into the telecom market. Maybe Liberty Telecom or Eastern Telecom or maybe others.

[marcial19xx]

ilad na oi... sila ra ma datu ana... kita rah gi pangawartahan ana... business strategy....

[MoD]

Ako nalipay ko ani sa merging sa duha... it propelled our stock market to rise again from bearish trend.... Foreign investor are back again buying their favorite stocks(hot money)... which is good for our economy...

[ong76win2]

PLDT: We're ready to cooperate with Congress
04/05/2011 | 07:08 PM

With lawmakers sounding the alarm on a possible emergence of a telecom duopoly due to the buyout of Digitel by PLDT, the telco giant has disclosed that it is ready to cooperate with Congress regarding the effect of the multi-billion transaction.

On Monday, Senator Joker Arroyo said the deal cannot be consummated without the approval of Congress since both PLDT and Digitel are operating with separate franchises granted by Congress.

Arroyo, a lawyer, pointed out that deal needs Congressional approval since it is imbued with public interest, adding that the National Telecommunications Commission (NTC) and the Securities and Exchange Commission (SEC) cannot even act on it unless cleared first by the legislature.

Responding to the comments, PLDT corporate secretay Ma. Lourdes Rausa-Chan said in a disclosure that despite the buyout, the company expects “competition to remain very robust, given the other operators including new entrants."

“We also expect that the transaction would achieve substantial benefits for the consumers and the general public in terms of higher quality and and even more affordable services in an industry," Rausa-Chan said.

She added: “We are prepared to cooperate with Congress should it decide to conduct a hearing on the effects of this transaction to the public." — Newsbytes.ph

Source: PLDT: We're ready to cooperate with Congress - Technology - GMA News Online - Latest Philippine News

Please share your opinion and reactions. Thank you

[pepau]

baliktad jud ni diri sa atoa sa, sa amerika gibuak ang at&t kay nag himo ang ila government ug balaod nga para sa mga citizens, diris ato kay murag bali man

[twitterah]

goodbye facebook Zero...

[polbeben]

hutdan na cguro ug budget ang digitel tungod sa sobrang kabarato.
sayanga kang idol J.G. ra ba na.
basin matinga lang ta ang sunod kay cebu pacific na, yaw tawon. hehehe