Vietnam: Merger Control - Three Years After the Grab/Uber Case
Vietnam enacted its first-ever Competition Law in 2004 under which the combined market share of the merging firms was the determining factor as to whether a merger required notification to the local antitrust agency or whether it would be blocked.Grab acquired Uber's hailing platform business in Vietnam as part of a regional package deal in 2018. Following a year-long investigation, the Vietnam Competition and Consumer Authority (VCCA) concluded that the transaction was illegal. As per the then-applicable law, this conclusion rested solely on the fact that the post-deal combined market share exceeded the regulatory threshold of 50%. It was the very first time where VCCA flexed its muscles, seeking to halt an M&A deal. The Competition Council, which was....To read the full article, please see the PDF file
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Asia Newsletter (August 10, 2022) (165 KB / 3 pages)
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