Uber recently sent an e-mail to Filipino users, announcing that its application will cease operating on April 16 (Monday). It also recommends that users download Grab software. Grab is acquiring Uber in Indonesia, Malaysia, Singapore, Thailand, Vietnam, etc. Business rivals.
The taxi application was originally expected to exit the Philippines on April 8, but later it agreed with the Philippine Competition Commission's request to extend the operating time by one week to avoid inconvenience to commuters.
However, the Philippine regulator said that the deal would reduce the competition in the taxi application market.
Previously, Grab and Uber signed an acquisition agreement. The former purchases the latter's business in Southeast Asia. In exchange, Uber acquired nearly 30% of Grab’s shares.
The regulator has not issued any statements. It is not yet clear whether this transaction has been approved by them.
The Singapore Competition and Consumer Commission said on Friday that Uber should continue to operate until May 7.