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Competition watchdog provisionally finds that Grab-Uber merger has lessened competiti

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SINGAPORE: The Competition and Consumer Commission of Singapore (CCCS) has provisionally found that the merger deal between Grab and Uber has led to a "substantial lessening of competition" in ride-hailing platforms, it announced on Thursday (Jul 5).
"CCCS has concluded its investigation after obtaining evidence from the parties and third parties," it said in a news release.
Advertisement"CCCS has provisionally found that the Transaction has removed competition between Grab and Uber, which were each other’s closest competitor. The merged entity is likely to be able to increase prices and has in fact done so since the completion of the transaction," it said.

In relation to these provisional findings, the competition watchdog has also proposed remedies to restore market contestability and to impose financial penalties on the parties.
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