In brief: Philippine regulator fines Grab and Uber over merger deal

The Philippine Competition Commission (PCC), the country’s antitrust watchdog, imposed 16 million pesos’ worth of penalties on ride-hailing giant Grab for failing to maintain operations [as] before it acquired Uber.

In August, the PCC approved the Grab-Uber deal but bound Grab to commitments, as if Uber were still operating in the Philippines.

Source: Rappler

The combined sum of 16 million pesos (approximately US$297,000) includes fines of 12 million pesos (US$220,000) and 4 million pesos (US$74,100) for Grab and Uber, respectively.

“We are currently studying all our legal options with regard to the fine imposed by the PCC,” said Leo Gonzales, public affairs head at Grab Philippines.

Last month, the Competition and Consumer Commission of Singapore (CCCS) fined both ride-hailers a combined US$9.5 million after it found that Grab’s acquisition of the Uber’s Southeast Asia business violated local antitrust rules. CCCS also ordered Grab to release its drivers from any exclusivity agreements and to return to pre-transaction pricing and payment models.

Currency converted from Philippine pesos and Singapore dollars. Rate: US$1 = ₱53.94 = S$1.37