Motorcycle taxi firm Move IT maintained that its transaction with Grab Philippines is “above board” and “beyond scrutiny.”
“Like we have always said our transaction is above board and beyond scrutiny, and we feel that [Transportation] Secretary [Jaime] Bautista’s statement should reassure those who think otherwise,” said Francis Juan, Move It chairman.
Bautista earlier said there was no need to review Grab’s acquisition of Move IT because it was a “private transaction” and that the focus of DOTr was safety.
Under the deal, Move It will not be merged with Grab. It will continue to operate on its own platform.
Grab plans to use its resources to improve Move It’s services to achieve a more vibrant and competitive moto-taxi market.