• Singapore fines Uber and Grab $9.5 million over merger

    23 days ago - By Venture Beat

    Singapore slapped ride-hailing firms Grab and Uber with fines and finalized restrictions to open up the market to competitors after concluding that their merger in March has driven up prices. Uber sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a 27.5 percent stake in the Singapore-based fi...
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  • Uber and Grab Fined Millions Over Merger That Broke Antitrust Rules

    Uber and Grab Fined Millions Over Merger That Broke Antitrust Rules

    23 days ago - By Fortune

    Singapore's antitrust regulator has hit Uber and Grab with fines and pro-competition measures regarding their Southeast Asian merger, which took place back in March .
    The merger represented Uber's partial retreat from the region, as it handed over the market to its biggest local rival. Under the deal, Uber got a 27.5% stake in the combined operation. But the Singaporean competition watchdog now says the deal broke antitrust laws.
    Following a proposed decision in July, the Competition and Consumer Commission of Singapore on Monday formally hit the companies with fines totalling $9.5...
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  • Singapore fines Uber, Grab for 'anti-competitive' merger

    23 days ago - By Chron

    SINGAPORE - Singapore's competition watchdog has fined ride-hailing giant Uber and its regional rival Grab 13 million Singapore dollars for a merger in Southeast Asia that the agency says has driven up fares and reduced competition in the market.
    The Competition and Consumer Commission of Singapore said Monday that Uber's sale of its regional business to Grab in March infringed on the Competition Act. Uber took a 27.5 percent stake in Grab as part of the deal.
    The watchdog said it found the merger caused fares to rise by 10-15 percent.
    Uber was ordered to pay a 6.6 million Singapore dollar...
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  • Singapore fines Grab and Uber, imposes measures to open up market

    23 days ago - By Reuters

    Singapore slapped ride-hailing firms Grab and Uber with fines and finalised restrictions to open up the market to competitors after concluding that their merger in March has driven up prices.
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