Senator Joker Arroyo questioned the reported merger between two local communication firms –the Philippine Long Distance Telephone Co (PLDT) and Digitel Telecommunications Philippines Inc., saying this could not be done without the approval of Congress.
Arroyo lamented that the National Telecommunications Commission (NTC), Security Exchange Commission (SEC), PLDT and Digitel were talking among themselves about the merger or sale, in whole or in part, of the controlling interest of Digitel to PLDT “as if Congress does not exist.”
“They cannot just do that without congressional approval. Nor can NTC and SEC can on it,” he said in a statement on 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,” he further said.
Read more at Philippine Daily Inquirer