Echoing the sentiment that the merger decreased competition was Ryde which told the Competition and Consumer Commission of Singapore (CCCS) that it disagreed with Grab’s statement to the findings that CCCS’ decision was “overreaching and goes against Singapore’s pro-innovation and pro-business regulations in a free market economy”.
“In truth, the merger is detrimental to innovation for Singapore’s ride-hailing industry,” the open letter read. Ryde added that while the proposed remedies do not go far enough, it is a step in the right direction to mitigate negative post-merger effects.
These remedies include financial penalties and the proposing the removal of Grab’s exclusivity arrangement with any taxi or chauffeured private hire car fleet to increase consumer and driver choice. Exclusivity obligations such as lock-in periods or termination fees were also tackled, along with the maintenance of Grab’s pre-transaction pricing algorithm and driver commission rates prior to the merger with Uber.
Full Content: Singapore Business Review
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