The Philippine Competition Commission (PCC) has given its approval for the sale of Sky Cable’s broadband business to PLDT. This decision comes after thorough evaluation and consideration of the potential impact on competition in the market.
Sky Cable, a subsidiary of ABS-CBN Corporation, has been a major player in the broadband industry in the Philippines. With this sale, PLDT, the country’s leading telecommunications provider, will acquire the assets and business operations of Sky Cable’s broadband division.
The PCC’s approval is a significant step towards the completion of the transaction. It ensures that competition in the broadband market will not be compromised and that consumers will continue to have access to quality services at competitive prices.
The acquisition will strengthen PLDT’s position in the broadband sector, allowing for enhanced capabilities and a broader reach for its services. This is expected to benefit both PLDT and Sky Cable customers, as it will lead to improved network infrastructure and expanded coverage.
Throughout the evaluation process, the PCC took into account various factors, including market concentration, potential anti-competitive effects, and the impact on consumers. The commission conducted a comprehensive assessment to ensure that the sale adheres to fair competition principles and safeguards the interests of the public.
Both Sky Cable and PLDT have expressed their commitment to ensuring a smooth transition for customers and maintaining the quality of service. The completion of the transaction is subject to the fulfillment of certain conditions, but once finalized, it is expected to bring positive changes and advancements to the broadband market.