TRANSPORT: SINGAPORE-Grab, Uber fined a combined $13 million by competition watchdog CCCS for March merger
.
The Competition and Consumer Commission of Singapore (CCCS) on Monday (Sept 24) fined ride-hailing firms Grab and Uber a combined $13 million for their March merger, which saw the sale of Uber’s South-east Asian business to Grab for a 27.5 per cent stake in Grab.
Uber was fined $6.5 million, while Grab was fined $6.4 million.
In addition, the parties have been directed by the CCCS to lessen the impact of the transaction on drivers and riders, and to open up the market and level the playing field for new players.
The directions include ensuring Grab drivers are free to use any ride-hailing platform, removing Grab’s exclusivity arrangements with any taxi fleet in Singapore, maintaining Grab’s pre-merger pricing algorithm and driver commission rates, and requiring Uber to sell the vehicles of Lion City Rentals to any potential competitor who makes a reasonable offer based on fair market value. http://str.sg/osvBPHOTO: ST FILE
All photographs, news, editorials, opinions, information, data, others have been taken from the Internet ..aseanews.net | [email protected] | For comments,
Email to : Pahulu Gan – Contributor | [email protected]
