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| Uber deal will have 'zero issues' despite watchdog reservations, says Grab CEO | Uber deal will have 'zero issues' despite watchdog reservations, says Grab CEO |
| (about 13 hours later) | |
| Grab chief executive Anthony Tan is confident that the ride-hailing firm’s deal with Uber will be completed with “zero issues”. | Grab chief executive Anthony Tan is confident that the ride-hailing firm’s deal with Uber will be completed with “zero issues”. |
| Mr Tan said on Tuesday that he believes regulators will not oppose Grab's plan to buy Uber’s ride-hailing and food delivery business in South-east Asia, despite Malaysian authorities warning that they would monitor Grab for potential "anti-competitive" behaviour in the region. | |
| The Philippines competition watchdog has also voiced its reservations, calling the tie-up a “virtual duopoly”. | The Philippines competition watchdog has also voiced its reservations, calling the tie-up a “virtual duopoly”. |
| Speaking to the BBC, Mr Tan said: “The number one thing that any regulator is concerned about is how do we make sure that we as, a leader do not set a bad example, do not take advantage. | Speaking to the BBC, Mr Tan said: “The number one thing that any regulator is concerned about is how do we make sure that we as, a leader do not set a bad example, do not take advantage. |
| "So we are out there, we are very visible, to say 'Look, we will not predatory price, we will not take advantage of our drivers'." | "So we are out there, we are very visible, to say 'Look, we will not predatory price, we will not take advantage of our drivers'." |
| The deal will see Uber own a 27.5 per cent stake in Grab. | The deal will see Uber own a 27.5 per cent stake in Grab. |
| Grab currently operates in eight countries, growing in popularity in Singapore, Malaysia, Indonesia and Vietnam. | Grab currently operates in eight countries, growing in popularity in Singapore, Malaysia, Indonesia and Vietnam. |
| The plans were announced last week on the back of Uber selling its China arm to Chinese rival Didi Chuxing. | The plans were announced last week on the back of Uber selling its China arm to Chinese rival Didi Chuxing. |
| Uber is pulling out of regional markets where it faced stiff competition as chief executive Dara Khosrowshahi aims to consolidate the business ahead of an IPO set for 2019. | Uber is pulling out of regional markets where it faced stiff competition as chief executive Dara Khosrowshahi aims to consolidate the business ahead of an IPO set for 2019. |