Singapore: Competition watchdog not notified about Grab-Uber deal

While it is aware of Grab’s acquisition of Uber’s Southeast Asia business, Singapore’s competition watchdog said it has not received formal notifications from both parties.

The Competition Commission of Singapore (CCS) is writing to both companies to “clarify the details” of the deal, it said on Monday, March 26, in response to queries from Channel NewsAsia.

The regulator noted that under Singapore’s competition law, mergers that may result in significantly lesser competitionare prohibited.

“We will ensure that no one single market player dominates the sector to the detriment of commuters and drivers,” the CCS said.

Meanwhile, taxi giant ComfortDelGro, which had entered into an alliance with Uber, said it is now reviewing “all aspects of its proposed tie-up” with the American firm.

The CCS said competition laws prohibit mergers that may result in a substantial lessening of competition, and indicated that it could “require the merger to be unwound or modified” or it could also “consider issuing interim measures prior to the final determination of the merger.”

Full Content: Straits Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.