THE Philippine Competition Commission (PCC) said it is considering new guidelines for parties required to divest holdings in competition rulings, as well as the system of overseeing compliance with such orders.
“These guidelines will provide stakeholders with clear and substantive guidance in situations where structural remedies and independent trustees overseeing compliance may be critical during the negotiation and implementation stages,” the PCC said in its 2024 Annual Report.
“These efforts will build on the PCC’s Guidelines on Merger Remedies, which were published in 2024, and are aimed at ensuring transparency and effectiveness in resolving competition concerns,” it added.
In 2024, the PCC Mergers and Acquisitions Office (MAO) received 29 notifications with a combined transaction value of over P809 billion, of which 17 were approved.
“The sectors with the most transactions included transportation and storage, financial and insurance services, electricity, gas, steam, and air-conditioning supply, and wholesale and retail trade (including repair of motor vehicles and motorcycles),” the PCC said.
According to the report, the MAO received six notifications from the transportation and storage sector worth P66.519 billion and six from the financial and insurance sector worth P63.046 billion.
Five notifications emerged from the electricity, gas, steam, and air-conditioning supply sector worth P194.78 billion and four from wholesale and retail trade worth P120.329 billion.
There were also three notifications from the information and communication sector worth P248.913 billion and three from real estate activities valued at P34.158 billion.
Meanwhile, one notification each emerged from the mining and education sectors valued at P67.35 billion and P14.017 billion, respectively.
Since 2016, the PCC has received 317 notifications involving a combined transaction value of P6.659 trillion.
The PCC is also planning to revise and update its rules on expedited merger review as the moratorium on the acceptance of notifications under expedited review draws to a close.
“The revised rules will allow the PCC to expedite reviews of certain transactions with minimal competitive risks, ensuring the efficient use of its resources while maintaining rigorous oversight of more complex cases,” the PCC said.
The commission is also looking at the introduction of fees for certain services provided by the MAO “to optimize the allocation of the agency’s limited resources.” — Justine Irish D. Tabile