Grab Challenges Singapore Watchdog’s Assessment of Uber Buyout
Grab said last Friday that it disagrees with the Competition and Consumer Commission of Singapore’s assessment of its takeover deal with Uber, calling the watchdog’s decision a “double standard that goes against the spirit of increasing choices for drivers and riders.”
The CCCS said in July that the Grab-Uber deal had harmed competition and pushed for the sale of Grab’s car-leasing businesses, as well as removing exclusivity obligations on drivers who use Grab’s ride-hailing platform. The antitrust body also proposed penalties for both firms.
It is said that watchdog’s final decision could set a precedent that may affect other markets such as Malaysia which is already studying monopoly risks triggered by the Grab-Uber merger.