April 2, 2018 / 8:07 AM / 6 months ago

Philippines competition watchdog says examining Uber-Grab deal

SINGAPORE (Reuters) - The Philippines competition watchdog said on Monday it is looking at whether the deal by Uber Technologies [UBER.UL] to sell its Southeast Asia business to rival Grab will substantially reduce competition.

A Grab employee uses the Apps to book a cab for passengers at the Ninoy Aquino International Airport (NAIA) in the metro Manila, Philippines, July 22, 2016. REUTERS/Romeo Ranoco

“The Grab-Uber acquisition is likely to have a far reaching impact on the riding public and the transportation services. As such, the PCC is looking at the deal closely,” the Philippine Competition Commission (PCC) said in a statement.

Reporting by Neil Jerome Morales; Editing by Muralikumar Anantharaman

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