In Singapore the time has come when Uber and Grab face the rage of competitive regulators.
The Singapore Competitive Consumer Committee (CCCS) announced its expectation that it will impose a fine of $ 13 million ($ 9.5 million) in Singapore for the merger of Uber-Grab, affecting competition in the market.
Uber individually, the Singapore dollar was fined $ 6.8 million and the Singapore dollar was fined $ 6.22 million. Penalties were imposed on dogs "to prevent irreversible merger that hinders competition". Despite the fine, Uber-Grab's merger did not have to be lifted.
We started business development in Southeast Asia by exchanging with Mr. rival Grab based in Singapore (27.5% same). The agreement also included provision of car pools, food delivery and payment services, financial services to Singapore, Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Thailand and Thailand. Vietnam.
Just days after Grab announced the merger, CCCSRaising concerns will hurt the competition. Mr. Grab announced a statement that he respected the dog of the magazine.
We are pleased that the CCCS has completed the investigation of the Grab-Uber transaction and does not require transaction settlement. "
"Grabs have completed trading as part of their legal rights and still insist that they have not intentionally or negligently violated competition laws."
But Grab echoed his earlier view of the narrow approach of CCCS to the definition of competition.
"But it is a shame that the CCCS adopts a very narrow definition of the market to reach its conclusion …
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Uber and Grab fined $ 9.5 million for "mergers that harm the competition"
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