Singapore watchdog sets interim measures for Uber-Grab deal
The Competition and Consumer Commission of Singapore (CCCS) said the measures include preventing Grab from taking over operational data from Uber to enhance its market position, adding that Uber would continue to operate in Singapore until May 7 to smoothen the transition.
Uber sold its Southeast Asian business to bigger local rival Grab, marking the U.S. company’s second retreat from an Asian market. Uber gets a 27.5 percent stake in Grab, which was last valued at $6 billion after a financing round in July.
“We trust that the CCCS’ review takes into account a dynamic industry that is constantly evolving, highly competitive, and being disrupted by technology and new services,” said Lim Kell Jay, head of Grab Singapore.
Other measures include ensuring that drivers are not subjected to exclusivity obligations and making sure both the ride-hailing companies maintain their pre-merger pricing and commission levels.
The watchdog also requires Grab to cease its exclusivity arrangements with all taxi fleets in Singapore, subject to provisions. ■