ThePhilippines' two telco giants are seeking to halt theregulatory review of their $1.5 billion joint acquisition deal for 's telecom unit,Reuters reported July 12.

and have each filed cases with the Court of Appeals, requestingthat the Philippine Competition Commission be stopped from conducting a fullinvestigation into their deal to purchase SMC's Vega Telecom Inc.

Theregulator has already warned both companies that they could face a steeppenalty for completing the deal before the review is finished.