PCC to review Grab-Uber deal if it meets notification thresholds

The Philippine Competition Commission (PCC) on Monday said it will have to review the move of Grab to acquire the Southeast Asian operations of Uber Systems Inc. if it fits the notification thresholds.

“If the parties meet the new threshold, now set at P2 billion for size of transaction and P5 billion for size of party, they should notify the PCC within 30 days after signing of their definitive agreement,” PCC Chairman Arsenio Balisacan said.

Uber Technologies has agreed to sell its Southeast Asian business to regional rival Grab.

As a result, the companies will implement an operational merger in the Philippines.

Balisacan noted, however, that the antitrust watchdog has yet to receive any notification regarding the transaction. “No notification has been filed at the PCC ... by Grab or Uber to date,” he said.

The PCC this month raised the transaction value of mergers and acquisitions that require antitrust review to P2 billion.

Under the Philippine Competition Act, the PCC is mandated to review all mergers and acquisitions valued at P2 billion and more to avoid the likelihood of any anti-competitive behavior.

“If the transaction meets the new size of party (P5 billion) and size of transaction (P2 billion) thresholds, the parties do have to notify us, and we have to review the transaction,” PCC Commissioner Johannes Bernabe said. —VDS, GMA News