“We’ll make investments not as a majority shareholder because gained’t be coping with it,” Sio said, noting SMIC has notified the Philippine Competition Commission (PCC).
The cope with MyTown is anticipated to push via “ to a few months” while the PCC completes an evaluation of the transaction.
Mergers and acquisitions valued at P1 billion have to be evaluated with the aid of the antitrust body for 30 to ninety days, in line with Philippine Competition Act
“We’ve already carried out with the PCC. We don’t see any problem. My estimate is that PCC [will finish its evaluation] in two to three months, but typically it ought to be only one month,” Sio stated.
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