Grab Philippines has assured the Philippine Competition Commission (PCC) of its cooperation in divulging information the anti-trust body may need to complete the review of the company’s acquisition of the Southeast Asian business of Uber Technologies Corp.
“The PCC can expect Grab’s cooperation in this motu proprio review. We will prepare the necessary documents and share information required by the PCC, and will closely work with the Commission to address whatever questions and clarifications they may have,” the company said in a statement posted April 3 on its website.
“We are willing to collaborate with the government and regulatory bodies, as always, to ensure that we fairly address the needs of our stakeholders,” it added.
The firm said it had expected the review, recognizing the mandate of the PCC to ensure robust competition in the country.
In the midst of a pending PCC review which will determine the fate of its acquisition of Uber, Grab said it will continue “to put our utmost support to ensure full transition of accredited Uber drivers onto our platform.”
The firm assured its registered drivers of quashing possible disruptions to their jobs while also assuring its consumers that its pricing mechanism will remain within regulatory guidelines.
Uber and Grab revealed the deal last week with the former intending to withdraw its operations in the Southeast Asia.
Other countries in the region have also raised concerns on the sale’s impact on local markets while Singapore took the first stride in launching a probe. — Janina C. Lim