Spain: CNMC approves MyTaxi and Hailo merger

Spanish competition authorities have approved the merger between Europe-wide cab hailing apps MyTaxi, which is in turn controlled by German auto company Daimler AG, and Hailo Networks Holding Ltd. The CNMC has concluded the merger will not pose a risk to the country’s taxi market, or cause undue stress on their sources of demand.

MyTaxi announced their plans to join with Hailo in July in order to create, with Daimler’s backing, a new Europe-wide leader in individual passenger transport services. The companies voluntarily presented their merger for analysis by the CNMC. Daimler, owner of Mercedes-Benz luxury cars, also owns the Car2Go and Moovel car sharing companies, through its Daimler Mobility Services subsidiary.

The merger will most strongly affect the taxi intermediary services markets and other services by Driven Transportation Vehicles (VTC), concentrated in the Madrid and Barcelona areas. These markets have only recently developed, having a low level of penetration compared to the total number of taxis available, the authority said in approving the merger with no further conditions or compromises necessary.

Full Content: Expansión

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.