PCC grants extension to Grab

The Philippine Competition Commission (PCC) has granted Grab Philippines a 10-day extension to finalize its voluntary commitments to address the anti-competition concerns raised by the antitrust authority regarding Grab’s acquisition of rival Uber.

Grab yesterday said it has filed a motion for extension of voluntary commitments period, which the PCC granted.

“We are grateful to PCC for giving us 10 additional days or until Aug. 10 to finalize our voluntary commitments,” Grab Philippines public affairs head Leo Gonzales said.

Gonzales said Grab and PCC officials met last Monday and the parties are set to meet again within the week.

The official, however, declined to provide further details of what transpired during the meeting.

The PCC earlier raised concerns on price increases and service deterioration in the market caused by Grab’s takeover of its main rival Uber as part of the ongoing review of the deal.

PCC’s mergers and acquisitions office found that the acquisition by Grab Holdings Inc. and MyTaxi.PH Inc. of Uber B.V. and Uber Systems Inc. last March 25 has resulted in a “substantial lessening of competition” in the ride-hailing market in the Philippines.

The concerns raised by the PCC are part of the motu proprio review it launched last April 3 to scrutinize the merger.

In line with the concerns raised by the PCC regarding the deal, Grab Philippines made voluntary commitments to remedy, mitigate, or prevent the negative effects to competition in the market following the acquisition.

“We are close to finalizing the voluntary commitments,” Gonzales said.