PLDT-SkyCable deal will kill competition in cable TV market - lawmaker | Bilyonaryo Business News

Congressman claims MVP buying Sky Cable to kill Cignal TV’s rival

A Mindanao politiko is claiming that bilyonaryo Manny V. Pangilinan is bidding to buy Sky Cable Corp. to kill his Cignal TV’s main competition.

“The deal may easily be construed as buying out the competition in order to kill it,” said Surigao del Sur Rep. Johnny Pimentel said on Tuesday.

READ: Perfect fit: MVP confirms BILYONARYO story PLDT keen on SkyCable

“PLDT (which owns Cignal TV) might acquire and then simply shut Sky Cable down. After all, PLDT is in a position to conveniently replace all the products, including the high-speed Internet services, being offered by Sky Cable,” he added.

READ: Going for broke: MVP-Salim group dives into bidding war for Sky Cable, eyes Bayanihan exemption from anti-competition scrutiny

BILYONARYO was the first to report that the Lopez family was disposing its Sky Cable to raise cash after its cash cow, ABS-CBN Corp., lost its franchise and was forced to slash operations and its staff.

READ: Lopezes put Sky Cable up for sale: Dennis Anthony Uy, Dennis Uy, Ayalas to square off

BILYONARYO was also the first to break that Pangilinan was going all out to win Sky Cable over other interested buyers – Dennis Anthony Uy of Converge, Dennis Uy of Dito Telecommunity, and the Ayala group.

Pangilinan confirmed PLDT was “evaluating” all options on Sky Cable but stressed it has not yet taken any definite action.

ABS-CBN, for its part, said the Lopezes have not yet decided whether to retain or sell Sky Cable.

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