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Philippines sets rules for 'virtual monopolist' Grab after Uber deal


Uber sold its money-losing Southeast Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm.  It prompted Malaysia, Vietnam and Singapore to launch separate reviews on the deal. (A Grab employee uses the Apps to book a cab for passengers at the Ninoy Aquino International Airport (NAIA) in the metro Manila, Philippines. - Reuters filepic)

Uber sold its money-losing Southeast Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm. It prompted Malaysia, Vietnam and Singapore to launch separate reviews on the deal. (A Grab employee uses the Apps to book a cab for passengers at the Ninoy Aquino International Airport (NAIA) in the metro Manila, Philippines. - Reuters filepic)

MANILA: The Philippine competition watchdog said on Friday it has approved ride hail firm Grab's acquisition of Uber's operations, providing it follows rules to ensure fairness to consumers given its stranglehold of the local market.

The Philippine Competition Commission (PCC) would strictly monitor Grab's compliance with conditions intended to improve quality of service over the next 12 months, amid complaints about picky drivers and sharp prices increases at peak times.

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