The country’s antitrust watchdog said Monday, April 2, it was considering an investigation into ride-sharing service Grab’s acquisition of rival Uber for violation of competition laws.
Grab will have a “virtual monopoly” of the ride-sharing market in the Philippines with Uber’s exit until new players come in, the Philippine Competition Commission (PCC) announced in a statement.
The PCC stated that it met with representatives of Uber and Grab to determine whether the size of the companies and the transaction would meet the thresholds for the antitrust body to step in.
“A merger or acquisition review using competition lens will determine whether the merger of two players in the ride-sharing market will substantially lessen competition,” the PCC said.
“PCC recognizes that the exit of Uber in the Philippines will put its rival Grab in virtual monopoly in the ride-sharing market until the new players come into operation,” the regulator said.
Full Content: Coconuts
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
