27 June 2019
On 21 May 2019, the Malaysian Communications and Multimedia Commission (“MCMC”) issued Guidelines on Mergers and Acquisitions. The Guidelines are intended to increase transparency and clarify MCMC’s approach when assessing mergers and acquisitions (M&A) of telecommunications companies and whilst considering conduct which would substantially lessen competition in the communications market. The MCMC press release notes that the communications and multimedia industry is a critical component and key contributor to the Malaysian economy. The press release reports MCMC Chairman Al-Ishal Ishak as noting that “[…] it is imperative that we strike a balance between allowing companies to pursue their corporate strategies and prioritising shareholder returns, whilst maintaining competitive dynamics in the market to protect products and services available for consumers and businesses”.