Singapore’s competition watchdog says Uber-Grab deal infringes competition

0
14

SINGAPORE (Reuters) – Singapore’s competition watchdog said on Friday that it had reasonable grounds for suspecting competition had been infringed by the agreed deal by ride-hailing firm Uber Technologies Inc [UBER.UL] to sell its Southeast Asia operations to rival Grab.

FILE PHOTO: The Uber logo is seen on a screen in Singapore August 4, 2017. REUTERS/Thomas White/File Picture

The Competition Commission of Singapore has commenced investigation into the transaction and proposed interim measures that will require Uber and Grab to maintain their pre-transaction independent pricing, it said in a statement.

Uber and Grab announced the deal on Monday, marking the U.S. company’s second retreat from an Asian market.

Reporting By Miyoung Kim; Editing by Himani Sarkar

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here