By Dat Nguyen  June 19, 2019 | 07:12 pm GMT+7 Grab insists it did not infringe Vietnam's antitrust laws by acquiring Uber's operation in Southeast Asia. Photo by Reuters/Beawiharta 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 … [Read more...] about Vietnam ruling: Grab-Uber deal does not violate antitrust laws
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Grab-Uber deal calls for end of monopoly in ride-hailing market
A level playing-field The negative sides of Grab’s monopoly following its acquisition of Uber’s Southeast Asia business are not only present in Vietnam. In other countries, the merger immediately invited fines from national competition agencies. In September 2018, the Competition and Consumer Commission of Singapore (CCCS) imposed a fine of SG$13 million (US$9.5 million) on the two companies for their merger deal. The CCCS found that Grab had raised their fares by 10-15% after eliminating its rival Uber, adding that they had received numerous complaints from both riders and drivers on fare and commission increases. Later in October, the Philippine Competition Commission decided to fine Grab for failing to maintain conditions as before the acquisition, such as pricing policies, rider promotions, driver incentives and service quality. In Vietnam, the competition authority VCA also launched a probe into the deal in April 2018, immediately after Uber officially ended its … [Read more...] about Grab-Uber deal calls for end of monopoly in ride-hailing market
Vietnamese authorities to probe Grab-Uber deal again
Grab’s acquisition of Uber is coming under further scrutiny. (Photo: laodong.com.vn) Hanoi (VNS/VNA) - Vietnam’s authorities plan to conduct further investigations into the merger of Grab and Uber last year over possible antitrust regulations violations, said the Ministry of Industry and Trade on February 13. The Competition Council announced that after examining documents and working sessions with relevant parties, it had discovered a number of new details related to possible violations of competition law in Grab’s acquisition of fellow ride-hailing platform Uber last March. These discoveries prompted the council to return the case dossiers to the Ministry’s Competition and Consumer Protection Department for further investigation. The investigation is expected to run until April this year. Last year, Grab announced its acquisition of Uber’s operations in Southeast Asia, including Vietnam. In Vietnam, the investigation into Grab and … [Read more...] about Vietnamese authorities to probe Grab-Uber deal again
Grab-Uber deal to be probed again
Grab’s acquisition of Uber is coming under further scrutiny. — Photo laodong.com.vnViet Nam News HÀ NỘI — Việt Nam’s authorities plan to conduct further investigations into the merger of Grab and Uber last year over possible antitrust regulations violations, said the Ministry of Industry and Trade on Wednesday. The Competition Council announced that after examining documents and working sessions with relevant parties, it had discovered a number of new details related to possible violations of competition law in Grab’s acquisition of fellow ride-hailing platform Uber last March. These discoveries prompted the council to return the case dossiers to the Ministry’s Competition and Consumer Protection Department for further investigation. The investigation is expected to run until April this year. Last year, Grab announced its acquisition of Uber’s operations in Southeast Asia, including Việt Nam. In … [Read more...] about Grab-Uber deal to be probed again
Grab-Uber deal comes under fresh antitrust scrutiny in Vietnam
The Competition Council said after a thorough examination of documents and arguments furnished by both parties it has discovered a number of new details related to possible violation of competition laws by ride-hailing platform Grab’s acquisition of Uber’s business operations last March. It has returned the case dossiers to the Ministry of Industry and Trade’s competition and consumer protection department for further investigation. The investigation is expected to go on until April this year. Last year Singapore-based Grab acquired Uber in Southeast Asia in return for a 27.5 percent stake. Vietnam’s 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 gains a 50 percent market share from the deal, it can only be carried out with express permission from the authorities. The department’s preliminary investigation found Grab’s market … [Read more...] about Grab-Uber deal comes under fresh antitrust scrutiny in Vietnam