trending Market Intelligence /marketintelligence/en/news-insights/trending/hmmjuvmsen4m1dig6du3va2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Singapore watchdog launches probe into GrabTaxi/Uber deal

The Evolution Of ESG Factors In Credit Risk Assessment: Corporate Governance

Industry Top Trends 2021: Metals and Mining

TMT News & Research: 2020 Recap

Blog

Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs


Singapore watchdog launches probe into GrabTaxi/Uber deal

The Competition Commission of Singapore has launched an investigation into GrabTaxi Holdings Pte. Ltd.'s acquisition of Uber Technologies Inc.'s Southeast Asian operations.

The competition watchdog initiated the probe after suspecting that section 54 of the Competition Act was infringed by the transaction due to a substantial lessening of competition in relation to the chauffeured personal point-to-point transport passenger and booking services, or CPPT services, market in Singapore, according to a March 30 news release.

The regulator also proposed interim measures for the companies that will require them to maintain their pre-transaction independent pricing, pricing policies and product options in relation to the CPPT services, and not take any action that could result in the integration of the parties' businesses in Singapore, among other things.

The deal will see Grab taking over Uber's operations and assets in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Meanwhile, Uber will own a 27.5% stake in Grab. Uber CEO Dara Khosrowshahi will also join Grab's board.