PCC to pursue review of Grab-Uber deal despite Uber closure

Uber Sticking By Self Driving Cars Despite Recent Fatality

Uber Sticking By Self Driving Cars Despite Recent Fatality

"This development may have rendered the review conditions to be less than ideal, however, this move shall not derail the motu proprio review of the Grab-Uber transaction", the PCC said.

The ride sharing app was initially supposed to exit the country on April 8 but agreed to a request by the Philippine Competition Commission to extend operations for a week so as not to inconvenience commuters.

"When a big player buys out its competitor, there will be many economic and legal factors that need to be scrutinized", Balisacan said.

The PCC went on to reiterate that Grab's acquisition of Uber's assets creates a potentially distorted market for ride-hailing.

Normally, a motu propio review-or an evaluation set by the agency itself-has two phases.

The PCC now plans to fast-track the completion of its review, "given how it is imbued with public interest".

Vetr Inc. Upgrades Delta Air Lines, Inc. (DAL) to Purchase
Delta Air Lines, Inc. (NYSE: DAL ) operates under Services sector, shares price declined -0.11% during latest trading session. Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally.

The Vietnamese Ministry of Industry and Trade made a decision to conduct a preliminary investigation into GrabTaxi's purchase of Uber's stakes in Vietnam in suspicion of breaching regulations of the country's Law on Competition 2004, Vietnam News Agency reported on Monday. "The accreditation of new TNCs is a welcome development to allow passengers to have more choices. We note, however, that the incoming TNCs are left with only 7% share in the market", the commission stated.

Ride sharing firm Uber has started to shut down its operations in the Philippines as part of its stake sale in local rival Grab. "This means that when you buy a firm, in effect, you also get its customer base", it added. This is an advantage that a newcomer does not have.

Under the rules issued in Singapore, which take effect immediately, Grab and Uber will not be allowed to integrate operations in the city-state until the probe is concluded.

In March, Grab acquired Uber's operations in Southeast Asia, after weeks of speculation.

"The above concerns only strengthen our resolve to pursue the review using the antitrust law". Rather, the commission said it will expedite the review to protect the passengers "from the perils of monopoly".

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