Congressional franchise not needed in PLDT, Digitel merger By Angie M. Rosales 04/16/2011

Congressional franchise not needed in PLDT, Digitel merger

By Angie M. Rosales 04/16/2011

The P74-billion merger plan of the telecommunications giant Philippine Long Distance Telephone Co. (PLDT) and Digitel Telecommunications Philippines Inc. (Digitel), does not require any new congressional franchise.

Such was the position on the matter aired by Senate President Juan Ponce Enrile, contradicting the view aired by some of his colleagues that it requires Congress’ approval.

In insisting on congressional approval, Sen. Joker Arroyo earlier said this is in line of Congress’ mandate in ascertaining whether the transaction will serve the public interest..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20110416nat11.html