Investigation into Grab's acquisition of Uber results announced
Investigation into Grab's acquisition of Uber in Vietnam results announced
The investigation into Grab's acquisition of Uber in Southeast Asia, including the Vietnamese market, ended on November 18, said the Department of Competition and Consumer Protection (DCCP) under the Ministry of Industry and Trade (MoIT).
Hanoi (VNA) – The investigation into Grab'sacquisition of Uber in Southeast Asia, including the Vietnamesemarket, ended on November 18, said the Department ofCompetition and Consumer Protection (DCCP) under the Ministry of Industry andTrade (MoIT).
Based on the results of verifying the facts and evidence of the case during theinvestigation process, the department said that Grab's acquisition of Uberhad signs of violations on notification of economic concentration stipulated in Article 20 of the Law on Competition, andthe act of economic concentration prohibited under Article 18 of the Law onCompetition.
At present, the department has completed the transfer of its investigationreport and conclusion, as well as the case’s dossier to the Vietnam CompetitionCouncil to handle the case in line with provisions of the Law on Competition.
The case is handled in accordance with orders and procedures specified inSections 5 and 6, Chapter V of the Law on Competition. Accordingly, afterreceiving the investigation report and the dossier, the council’s chair willdecide on the establishment of a council to handle the case.
Within 30 days after receiving the dossier, the case-handlingcouncil may issue one of decisions, including returning the dossier for furtherinvestigation (within 60 days), suspending the competition case, or opening ahearing to issue a decision on the handling of the case.
According to the department, its director signed a conclusion document of theinvestigation of the case in accordance with Clause 9, Article 76 of the Law onCompetition on November 30.
Previously, in April, the MoIT’s Vietnam CompetitionAuthority (VCA) decided to conduct a preliminary investigation into Grab’spurchase of Uber’s stakes in Vietnam, which is suspected of breachingregulations on economic concentration under the country’s Law on Competition2004.
Grab is one of the most frequently used O2O(online-to-offline) mobile platforms in 195 cities in Southeast Asia. More than5 million people use the combined platform daily.
Vietnam is not the only country where Grab iscurrently under fire. Other Southeast Asian countries such as the Philippines,Singapore, and Malaysia, are all requesting a detailed explanation of the company’sacquisition of Uber out of concern about the risk of Grab’s monopoly in themarket. –VNA
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Illustrative image (Source: nld.com.vn) 
