MANILA - The Philippine Competition Commission on Saturday said it would further review San Miguel Corporation's acquisition of Holcim Philippines, saying the deal could lead to a "cartel-like coordination among cement firms" in several regions.
"The Phase 2 review will also assess whether there will be an increased likelihood of cartel-like coordination among cement firms operating in the identified geographic areas," it read. "Cement is a commodity with low product differentiation where brands undergo the same quality standards," the antitrust body said.
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