Meralco unit’s planned merger with 2 firms face deeper scrutiny from PCC

The Philippine Competition Commission (PCC) has intensified its scrutiny of a proposed joint venture between Meralco’s engineering and construction unit and two independent contractors, launching a phase 2 review.

Meralco Industrial Engineering Services Corp. (MIESCOR), Connect Infrastructure (Philippines) Pte. Ltd. (CIP), and PTCI Holding Pte. Ltd. submitted a notification to the PCC on February 21 detailing their plan to combine forces.

The companies emphasized the complementary nature of their operations, aiming to create a more robust entity.

PTCI owns Phil-Tower Consortium Inc., while CIP and MIESCOR jointly manage MIESCOR Infrastructure Development Corp. (MIDC), both independent players in the tower sector.

The consortium contends that the merged entity will significantly improve mobile network coverage by leveraging their combined geographic reach and expertise.

However, citing insufficient information, the PCC has directed its Mergers and Acquisitions Office to undertake a more in-depth Phase 2 review. This will allow for a thorough examination of the deal’s potential impact on competition within the Philippine market.

The outcome of the review will determine whether the proposed joint venture is approved or rejected.

Subscribe to

Stay in the know with Bilyonaryo’s unparalleled coverage of business news and global industries!

Elevate your understanding of the Philippine business landscape and gain insights into worldwide markets by subscribing to our dedicated channels. Receive breaking news, in-depth analyses, and exclusive interviews with industry leaders directly on Viber, WhatsApp, and Facebook. Stay informed and empowered with our Email Newsletter, delivering curated content right to your inbox.

Don’t miss out on crucial updates and trends shaping economies and businesses both locally and internationally.

Join Bilyonaryo’s community today by clicking the button below to subscribe and stay ahead in the dynamic world of business.

Share this Bilyonaryo story