No such SEC action against the leading radio-TV networks, however, since the commission had already reviewed and cleared their PDRs. Tan himself felt deceived when he wrote the articles defending Rappler, since he was not told of the illegal provision. And if holders of over one-third of the receipts find the prospective partner not to their liking, say, because it is strongly nationalistic, they can stop the merger. And was it too hasty an inquiry for seasoned SEC lawyers to spot one problematic provision on page 3 of the Omidyar PDRs after five months of looking? Like Tan, this writer can cite more misleading Rappler statements.

Source: Manila Times January 29, 2018 16:30 UTC