Singapore Competition Watchdog to Probe Uber-Grab Acquisition
Last Friday, Singapore’s competition watchdog said that it will be looking into the acquisition of Uber’s Southeast Asian business by its competitor Grab as it had reason to believe that the deal may have infringed the Competition Act.
The Competition Commission of Singapore also proposed interim measures that will require Uber and Grab to maintain their pre-transaction independent pricing. This is the first ever occasion that the CCS had imposed such orders on any business in the country.
Grab Singapore head Lim Kell Jay assured consumers and the commission that they have voluntarily committed to maintaining their fare structure and will not increase base fares.