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Philippines: Watchdog fines Grab for post-merger audit intervention

By  |  January 27, 2019

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

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