The Philippine competition watchdog on Friday, January 25, announced it has sanctioned ride-hailing service Grab for obstructing an audit aimed at preventing anti-competitive practices, and warned it could void the company’s acquisition of Uber’s regional business if the violations continue.
Philippine Competition Commission Chairman Arsenio Balisacan said the regulator fined Grab 6.5 million philippine pesos (US$123,000) for “submitting deficient, inconsistent and incorrect data” related to fares.
Grab’s actions impaired the Commission and an independent auditor’s ability to monitor compliance with voluntary commitments the company made to address concerns about anti-competitive practices.
Grab in March took over US-based rival Uber’s Southeast Asian operations, which the Commission approved in August. To address competition issues, Grab agreed to periodic post-merger monitoring and promised not to permit “extraordinary deviation” from minimum fares, among other commitments.
Full Content: KrASIA
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI