Grab announced says that it has considered Singapore’s Competition and Consumer Commission’s (CCCS) decision that the merger of Uber and Grab lessens competition in the ride-hailing business and disagrees with their analysis.
This came on the back of the CCCS saying on Thursday, July 3, that the merger of Grab and Uber has significantly lessened competition in the ride-hailing business in Singapore and its proposal to fine the two parties.
Grab stresses that although they are one of the most visible players in transport, they are not the only player in the market, as the CCCS has not taken into account the dynamic developments and intense competition going on over the past few months, from both new and incumbent taxi and ride-hailing players in Singapore.
“Even though not required by the law, we had informed the CCCS that we were making a voluntary notification, as well as proactively engaged with the CCCS before the transaction was signed. We conducted the acquisition legally and in full compliance with Singapore’s applicable competition laws,” says Grab.
Full Content: The Edge Singapore
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