Vietnam’s Competition Council ruled Wednesday that Grab’s acquisition of Uber last year did not infringe the Competition Law. It dismissed the preliminary investigation results of the Ministry of Industry and Trade’s competition and consumer protection department, which found that Grab’s market share had exceeded 50 percent since the acquisition.
The Competition Law requires any merger or acquisition that results in a company gaining a 30 percent market share to be reported to competition authorities. If a company will gain a 50 percent market share after the deal, it can only be carried out with official approval.
The Competition Council, which is independent of the ministry, said it had heard the related parties on June 11 before making the ruling. The competition and consumer protection department has 30 days starting Wednesday to appeal the verdict.
Full Content: VN Express
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