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September 3, 2016

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Scrutiny on merger of Didi and Uber China

THE Ministry of Commerce said yesterday it’s investigating the merger deal between Didi Chuxing and Uber China to ensure it will not be a monopoly and against consumer interest.

The ministry will carry out the investigation into the details of the merger under the Anti-Monopoly Law and other relevant legislations, Shen Danyang, the ministry’s spokesperson, told a regular press conference yesterday.

The ministry’s antitrust unit has already held two meetings with Didi and requested the company to submit relevant documents and materials.

It also wants the company to explain details of the merger deal and why it hasn’t submitted materials regarding the proposed acquisition.

The ministry said it has also talked with relevant authorities and ride-hailing companies to understand the online ride-hailing business and the overall industry.

Didi yesterday declined to comment on the matter.

The company said on August 1 that it would acquire Uber Technologies’ business operations in China through a share swap deal that would drive out its biggest rival in the country.

The Anti-Monopoly Law enacted in 2008 allows China to block foreign deals it deems to threaten competition, but industry watchers have said the ministry is not likely to block the deal between Didi and Uber.

The ministry yesterday also said it is investigating Comcast Corp’s proposed purchase of movie studio DreamWorks Animation.


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