Lawmaker: PLDT-Digitel deal needs congressional approval
April 5, 2011
TELECOMMUNICATIONS company PLDT’s acquisition of third-ranked Digitel cannot take place without approval from Congress, a senator said Monday.
“PLDT and Digitel both operate by virtue of a legislative franchise and they are governed by the terms of their respective franchises granted by the two house of Congress,” Senator Joker Arroyo said.
“The law is very strict on that,” he said at a press conference Monday.
Section 16 of Digitel’s franchise says it cannot “sell nor assign this franchise or the rights and privileges acquired.”
The franchise also prohibits the former Gokongwei-led company from merging with another company or transfer controlling interest “without prior approval of the Congress of the Philippines.”
The telcos will need to apply for a franchise again and sit through congressional hearings for the acquisition to push through, Arroyo said.
Arroyo explained lawmakers will have to study how the acquisition will affect the public.
He said the telcos, the National Telecommunications Commission, and the Securities and Exchange Commission are discussing the acquisition “as if Congress does not exist.”
“They cannot just do that without congressional approval. Nor can NTC and SEC act on it,” he said.
Arroyo said he is not questioning PLDT’s ability to run Digitel since the telco is “empirically competent.”
He said Congress has to exercise oversight on franchises even after they are granted.
But NTC Commissioner Gamaliel Cordoba said in a telephone interview that there have been no talks between them and SEC.
“We have not received any official documents from either PLDT or Digitel regarding the acquisition, although we have requested it from them last week,” Cordoba added.
He said the NTC still does not know when the details of the acquisition will be final, or when the telcos will submit documents. He agreed, however, that the acquisition will need to go through Congress.
Last week, Senator Ramon Revilla Jr., chairman of the Senate committee on public services, told the NTC to submit a report on how the acquisition will affect subscribers.
Revilla said PLDT, which already owns Smart Communications, Piltel,
and CURE (Red Mobile), will “undoubtedly be owning a great chunk
of the mobile phone industry” because of the deal.
According to its website, Smart had 45.6 million mobile phone subscribers as of December 2010. Digitel’s Sun Cellular, on its website, says it has “more than 15 million subscribers.”
Sun.Star tried to get reactions from PLDT and Digitel but was told to wait for their official statements. (Jonathan de Santos/Sunnex)
Source: http://www.sunstar.com.ph/manila/local-news/2011/04/04/lawmaker-pldt-digitel-deal-needs-congressional-approval-148717
Clark Wine Center was built in 2003 by Hong Kong-based Yats International Leisure Philippines to become the largest wine shop in Philippines supplying Asia’s wine lovers with fine vintage wines at attractive prices. Today, this wine shop in Clark Philippines offers over 2000 selections of fine wines from all major wine regions in the world. As a leading wine supplier in Philippines, Pampanga’s Clark Wine Center offers an incomparable breadth of vintages, wines from back vintages spanning over 50 years. Clark Wine Center is located in Pampanga Clark Freeport Zone adjacent to Angeles City, just 25 minutes from Subic and 45 minutes from Manila.
Wines from Burgundy, Bordeaux, Rhone, Loire, Spain, Portugal, Germany, Austria, Alsace, USA, Australia, New Zealand, Italy, South Africa, Chile and Argentina etc. are well represented in this Clark Wine Shop.
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Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.
Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:
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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com
YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.yatsleisure.com
Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:
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http://www.ClarkPhilippines.com
http://www.YatsWineCellars.com
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