LOADING

TDM NEWS EVENTS IWTA SERIES TDM

Travel Daily Media

Today Free Charge

Sign up today free of charge.

Join our global community of over 5 million travel and hospitality executives.

Vietnam to reinvestigate Grab-Uber deal

Vietnam to reinvestigate Grab-Uber deal

Kristin Mariano

- February 15, 2019

It has been almost a year since the merger between Grab and Uber shook the ride-hailing market in Southeast Asia. After the deal, Grab became the top dog in Asia.

According to Viet Nam News, Vietnam authorities plan to reinvestigate the merger over possible antitrust regulations violations, said the Ministry of Industry and Trade on Wednesday. The Competition Council claimed that after examining documents and working sessions with relevant parties, it had a number of new details related to possible violations of competition law in Grab’s acquisition of fellow ride-hailing platform Uber last March.

After finding these discovered, the council returned the case files to the Ministry’s Competition and Consumer Protection Department for further investigation.

In Vietnam, the investigation into Grab and Uber’s merger happened in May 2018. Following the deal, the Competition Council announced that Grab’s acquisition of Uber had signs of violations in terms of failure to notify market regulators of its purchase of Uber.

Notably, the authorities claimed that the combined market share between Grab and Uber in Vietnam exceeded 50%, which breaches regulations under the country’s Law on Competition 2004.

According to the ministry, if the concentrated market share of parties accounts for 30% to 50% in the market without announcement before their acquisition, the firms will be fined 10% of their total revenue in the previous financial year. If the figure exceeds 50 per cent, the transaction will be prohibited from being completed.

Grab defended itself and said it acted legally and that the competition authorities have misinterpreted the scope of relevant markets when calculating the market share.

Grab’s acquisition came under fire in many countries. In Singapore, Grab was fined USD 9.5 million for squashing competition.

 

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats

Vietnam to reinvestigate Grab-Uber deal

Kristin Mariano

- February 15, 2019

No posts found.

May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

content studio box

…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats