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Sharing Economy

Philippine watchdog fines Grab for hindering post-merger audit

Regulator warns it may rescind Uber merger approval if violations continue

A Grab taxi waits for passengers at Ninoy Aquino International Airport near Manila in July 2016.    © Reuters

MANILA -- The Philippine competition watchdog on Friday said it has sanctioned ride-hailing service Grab for obstructing an audit aimed at preventing anti-competitive practices, and warned it could void the company's acquisition of Uber's regional business if the violations continue.

Philippine Competition Commission Chairman Arsenio Balisacan said the regulator fined Grab 6.5 million pesos ($123,000) for "submitting deficient, inconsistent and incorrect data" related to fares.

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