PCC to conduct moto propio review on Grab-Uber acquisition
Grab, Uber logo
MANILA, Philippines — The Philippine Competition Commission (PCC) will exercise its power to conduct a moto propio review on the transaction of Grab acquiring Uber.
PCC Chairman Arsenio Balisacan said the transaction may affect the riding public and partner drivers based on their preliminary assessment.
Balisacan added that fares will increase if there is no competition or that the acquisition will result in a monopoly.
Grab and Uber are ride-sharing applications that serve as the bridge between commuters and transport network vehicle service (TNVS).
“It’s bothering because as I said, the market is already concentrated to begin with, and with the merger, it will become more concentrated,” said the chairman.
PCC will hold a consultation on Thursday with Grab and Uber officials to see if the two companies have recommendations to prevent the negative impact of the acquisition.
But Balisacan said that the review may last for four months or less depending on the cooperation of the parties involved.
Uber is supposed to stop its operation of their app but PCC said, it is more likely that the operation will continue as an interim remedy while the review is ongoing.
PCC may penalize companies that will be found violating the provisions of competition law.
UNTV news still awaits Uber and Grab’s statement on the issue. — Rey Pelayo | UNTV News & Rescue
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