PCC Clears Mitsubishi’s P18.4-B Deal for Indirect GCash Stake - BusinessWorld Online

PCC clears Mitsubishi’s P18.4-B deal for indirect GCash stake - BusinessWorld Online

THE PHILIPPINE Competition Commission (PCC) has approved Ayala Corp.’s sale of 50% of its stake in AC Ventures Holding Corp. (ACV) to Japan’s Mitsubishi Corp. for P18.4 billion. The competition watchdog found that Mitsubishi’s investment in ACV would not “significantly reduce” competition in the market for quick response (QR) code-based person-to-merchant digital payments, the PCC said in an e-mailed statement on Thursday. ACV is the venture cap…

PCC clears Mitsubishi's investment in GCash holding firm

MANILA, Philippines — The Philippine Competition Commission (PCC) has approved the P18.4-billion purchase by Mitsubishi Corp. of shares in the Ayala company that runs popular e-wallet GCash. Zobel family-led Ayala Corp. entered into a deal to sell to Mitsubishi Corp. half of its shareholding in AC Ventures Holding Corp. This is the tech holding firm which has interest in unicorn Globe Fintech Innovations Inc. (Mynt), the parent company G-Xchange…

PCC clears Mitsubishi's 50% acquisition of GCash ultimate parent firm

The Philippine Competition Commission (PCC) on Thursday announced it has cleared the proposed joint venture between Ayala Corporation and Japanese mega-conglomerate Mitsubishi Corporation.

Green Light from PCC Adds Fuel to GCash IPO Buzz

A fresh wave of excitement has rippled through the Philippine tech and finance sectors following today’s announcement that the Philippine Competition Commission (PCC) has cleared Mitsubishi Corporation’s investment in Ayala Corporation’s venture capital arm — one that indirectly holds the crown jewel of Philippine fintech: GCash.