The Philippine Competition Commission said last Monday that it will be looking into Grab’s acquisition of Uber’s Southeast Asian business as the it could substantially reduce competition.

In an official statement, the PCC said that the deal is expected to have a far-reaching impact on transportation services and the riding public. Grab and Uber dominated the ride-hailing market in the Philippines until Uber’s retreat from the region.

The LTFRB recently assured the public that the deal will not give Grab a monopoly as three other smaller companies are expected to fill Uber’s place in around a year’s time.  

Source: Reuters

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