Business

Grab ordered to refund P5.05 million to riders for breaching price cap

Grab ordered to refund P5.05 million to riders for breaching price cap

MANILA, Philippines (2nd update) — The Philippine Competition Commission on Monday said it ordered ride-hailing company Grab Philippines to refund P5.05 million to affected riders for breaching their price commitments.

The country’s antitrust body said the amount must be returned to users who took Grab rides in the third quarter this year after a review found that Grab breached the fare cap placed by regulators.

The PCC also said it would monitor Grab for another year amid competition concerns in the ride-hailing market.

PCC Commissioner Johannes Bernabe said Grab can appeal the order.

Last year, Grab bought Uber’s ride-sharing and food delivery business in Southeast Asia, the industry's biggest acquisition in the region.

The PCC earlier ordered Uber and Grab to delay the integration of their businesses and continue their separate operations while the antitrust agency examines the domestic implications of the merger. — Ian Cigaral; Reports from The STAR/Louella Desiderio

This is a developing story. Please check back for updates.