The Competition and Consumer Commission of Singapore (CCCS) is looking into the potential merger that is being brokered between ride-hailing firms Grab and Gojek, reported Malay Mail.
In response to queries on Thursday, December 3, it stated that it is aware of news reports on the two companies having made substantial progress in working out a deal to combine their businesses. It is now looking into the matter.
The statutory board under the Ministry of Trade and Industry added that Section 54 of the Competition Act (Cap 50B) prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition.
The watchdog also laid out a set of remedies to cushion the impact of the merger on riders and drivers, including removing Grab’s exclusivity arrangements with any taxi fleet.
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