The Vietnam Competition and Consumer Rights Protection Agency under the Ministry of Industry and Trade has completed a preliminary investigation into Grab’s purchase of Uber’s stakes in Vietnam, said the ministry’s Office on May 16.
According to the investigation on economic concentration between Grab and Uber, the combined market share of both Grab and Uber in Vietnam exceeds 50 percent which means the transaction between Grab and Uber violates regulations on economic concentration under the country’s Law on Competition 2004.
Vietnam Competition and Consumer Rights Protection Agency under the Ministry of Industry and Trade will send documents to the Vietnam Competition Council for the handling in accordance with law.
At the end of March, Uber Technologies Inc. has agreed to sell its Southeast Asian operations, including Vietnam to regional-rival Grab. Under the agreement, Grab will take over all of Uber’s operations in Southeast Asia, including the food delivery service UberEats.