Chile Approves Uber’s Purchase Of Cornershop

Chile’s antitrust regulator announced on Friday, May 29,  it had approved “without conditions” Uber’s purchase of Chilean online grocery provider Cornershop, clearing a key hurdle for the ride-hailing company as it seeks to expand into the delivery of groceries and other goods, reported The New York Times. 

Uber announced in late 2019 it would buy a majority stake in the Santiago-based Cornershop, but the deal was subject to the approval of regulators in Chile and Mexico.

“The operation does not substantially reduce competition and, consequently, does not negatively affect … access, price, quantity or quality,” Chilean antitrust regulator FNE said in a statement on its decision.

Mexican authorities have yet to green-light the transaction.

Cornershop has rapidly gained popularity in Latin America. Its uniformed staff are a common sight in grocery store aisles, hunting down orders for customers then delivering them in branded, recyclable bags.

Full Content: New York Times

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