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Tag: SMC

  • SMCP launched Sandro on Farfetch

    SMCP launched Sandro on Farfetch

    Fashion group SMCP is to launch its Sandro brand on Farfetch. The Chinese-controlled, French-based affordable luxury retailer says the 13 million-plus clients per month around the world that Farfetch attracts will be an ideal partner to enable Sandro to address a wider, premium customer base.

    “We are delighted with this new partnership with one of the major digital players of the luxury sector,” said Sandro CEO Isabelle Allouch.  “We are convinced that having our products on Farfetch will contribute to Sandro’s digital expansion across the globe, positioning it as a high-end luxury brand and enhancing its worldwide visibility and awareness.”

    She said the partnership marks a key milestone in the global roll-out of SMCP’s digital strategy, bringing together online and offline shopping.

    “It perfectly complements the group’s growing digital presence alongside the successful global deployment of our own websites, and further diversifies its digital sales channels, enabling the group to reach more than 190 countries across the world.”

    The partnership comes just three months after the announcement of a landmark partnership with JD.

  • Philippine court freezes PCC probe into SMC sale

    Philippine court freezes PCC probe into SMC sale

    The Philippines’ Court of Appeals has halted the Philippine Competition Commission’s (PCC) investigation into Globe and PLDT’s joint acquisition of San Miguel Corporation’s telecoms assets.

    The court has agreed to a request by PLDT to grant temporary relief while the case is before the courts, issuing a preliminary injunction against the competition regulator’s proe.

    Accordingly the PCC will be prohibited from continuing the investigation into the acquisition until further notice.

    The court agreed with PLDT’s assertion that the “deemed approved” status assigned to the acquisition gives PLDT a right to be protected from the investigation.

    But before the injunction can take effect, PLDT will be required to submit a 1 million peso ($21,500) cash bond to address any damages the regulator will suffer if the court decides that PLDT is not entitled to an injunction.

    Globe and PLDT arranged in May to acquire San Miguel’s telecoms assets for a combined $1.5 billion, finally giving the incumbent operators access to the 700-MHz spectrum they had been seeking for a long time.

    But the PCC announced in July it plans to conduct a full investigation into the deal to evaluate the potential impact on competition. Both PLDT and Globe responded by petitioning the court seeking to have the “deemed approved” status upheld, and these actions were later consolidated into one case.

    Despite the ongoing case, the operators have wasted no time taking advantage of the new spectrum, with Globe recently announcing it had deployed more than 150 compatible 700-MHz base stations in the past three months.

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  • Philippines’ new ICT chief orders spectrum audit

    Philippines’ new ICT chief orders spectrum audit

    The chief of the new Philippines Department of Information and Communications Technology (DICT) has ordered the inventory of used and unused telecoms spectra.

    In his first public speaking engagement and media interview since assumption into office on July 1, DICT Secretary Rodolfo Salalima said frequency is a scarce public resource and the patrimony of the nation.

    “I do not want public telephone entities to be warehousing frequencies, meaning getting assigned frequencies from the government, storing it without using it but using it for speculative purposes,” he said.

    He clarified that this act is contrary to the Philippine Constitution and a public service law which states that frequency must be assigned only to those who can make it effective and efficient use of it.

    “If they (telecommunications companies) have not used these frequencies within a reasonable time as stated in the position of giving or assigning to them the frequency, we better start revoking these frequencies because it ought to be assigned to telcos that can effectively and efficiently utilize them,” he added.

    The DICT Chief, however, gave assurances that due process will be observed if the department will resort to revocation of spectrum licenses or permits if some telcos are found to have not used them within the prescribed period.

    “We will hear them out,” he said, further clarifying that what telcos pay for is only the use of the frequency. “They do not become owners of these frequencies because they can never be owned under the Philippine Constitution.”

    The issue stemmed from the recent co-purchase of the telco business of San Miguel Corporation (SMC) by the country’s two dominant carriers – PLDT and Globe Telecom, which the government’s antitrust body, the Philippine Competition Commission (PCC) now wants investigated.

    Salalima said frequency is crucial to the operations of telecommunications companies in servicing the public.

    “This is the reason why to my mind, PLDT and Globe have to purchase control of the holding company of SMC so that at least they can have part of the frequency (not the entirety) needed for them to further improve the service,” he said.

    He clarified though that he is leaving it to the PCC to decide on the issue of whether the telco buyout deal is in the best interest of the public. His concern is the efficient use of spectrum, especially in light of the need to improve internet connection speed in the country and public services.

    Newly elected President Rodrigo Duterte has given local telecommunications players one year to shape up telco services and internet speed or ship out.

    The DICT, which was given the mandate to make policies and plans in regard to telco services and the country’s ICT infrastructure, is still in the transition period. It is currently awaiting the Implementing Rules and Regulations (IRR) of the law that created the new department only last May.

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  • Philippine competition watchdog to probe SMC deal

    Philippine competition watchdog to probe SMC deal

    The Philippine Competition Commission (PCC) has announced it will conduct a “comprehensive review” of the 69 billion peso ($1.49 billion) acquisition of San Miguel Corporation’s telecoms assets by PLDT and Globe Telecom.

    The regulator has sent letters to the operators informing them that a thorough review will be undertaken.

    Such a review includes an investigation into whether there will be substantial changes to the market structure and the potential impact of the transaction on public welfare.

    In a statement, the newly-formed PCC said it had decided to conduct the investigation “based on the totality of information available to us, including public statements made by the parties,” which led the authority to “believe there is a basis to conduct this review by virtue of the powers granted to the PCC by the Philippine Competition Act.”

    The PCC recently decided not to accept PLDT and Globe’s initial application for the merger, claiming it was “deficient and defective in form and substance.”

    The operators had recently resubmitted parts of their application to address the regulator’s concerns, while maintaining that their initial application was sufficient.

    PLDT and Globe announced in late May that they have arranged to acquire SMC’s telecoms assets, including its coveted 700-MHz spectrum holdings, in a deal worth a combined 69.1 billion pesos.

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