Grab Philippines announced on Friday, October 26, it will file a motion for reconsideration with the Philippine Competition Commission (PCC) over the 12 million pesos (US$222,586) fine the antitrust body imposed on the company over its acquisition of Uber operations here.
In a statement, Miguel Aguila, Grab Philippines lead legal counsel, said, “We respectfully disagree with PCC’s decision. Grab completed the transaction [with Uber] legally, and did not violate the interim measures order [of the PCC].”
The fine was 12 million pesos (US$222,586) for Grab and 4 million pesos (US$74,195) for Uber for causing “undue difficulties” to the review being conducted by the PCC on their merger.
“During the review of the deal, we worked closely with the PCC and explained the market conditions that affected the interim measures,” Grab’s Aguila said.
The PCC is penalizing Grab for allegedly failing to keep its pre-Uber acquisition prices and quality of service, failing to keep operations separate with Uber, and failing to suspend Uber’s assumption of seats on Grab’s board.
Full Content: PhilStar