There has been talk that Uber may merge with Ola in India. Photo: Reuters/Tyrone Siu
SoftBank still remains a substantial shareholder in Uber. Photo: Reuters/Tyrone Siu

After weeks of suspended operations in the Philippines, Uber has finally agreed to pay a US$3.72 million fine required by authorities, plus an additional US$5.87 million in compensation for drivers’ lost time.

The US$3.72 million fine itself was 20 times what Uber had initially offered to pay.

“We have complied with the requirements outlined by the LTFRB, and are grateful for the opportunity to serve the Philippines again,” Uber said in a statement on Tuesday.

The suspension was a welcome boost for Uber’s Southeast Asian rival Grab, which saw a spike in demand over the past several weeks.