A PYMNTS Company

Vietnam: Grab’s Uber takeover violated competition law

By  |  December 13, 2018

The Vietnamese Trade and Industry Ministry announced its investigation has found evidence that Grab’s acquisition of competitor Uber violated Vietnam’s Competition Law.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The investigation, carried out by the Ministry’s Competition and Consumer Protection Department, found that the two ride-hailing firms had failed to report their merger to competition authorities as needed.

    They merger they carried out was also not allowed by Vietnamese law, the Ministry stated Wednesday, December 12.

    The 2004 Competition Law requires any merger or acquisition that results in a company gaining a 30% market share to be reported to competition authorities.

    If a company gains a 50% market share from the deal, it can only be implemented with express permission from the authorities.

    The department’s preliminary investigation has found Grab’s market share in Vietnam exceeded 50% since Uber quit the market last April.

    Full Content: VN Express

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