Grab and Uber Merger Requested Canceled

KOMPAS.com – The Singapore Competition and Consumer Commission (CCCS) has requested the cancellation of the merger of Grab and Uber. CCCS views the merger as a market monopoly, which makes industrial competition unhealthy.

In March, Grab annexed Uber's operational activities in Southeast Asia to strengthen its position as an online transport service. All Uber badets in Singapore, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, Vietnam and Cambodia are now in the hands of Grab.

On the contrary, Uber holds a 27.5% stake in Grab. Uber CEO, Dara Khosrowshahi, also joins the Grab Board of Directors.

To read also: It is the appearance of the Uber application after the official stop of the operation

Currently, the merger Grab and Uber is already underway. It is unclear what is the purpose of the CCCS cancellation mechanism. Grab and Uber also declined to comment on this.

Pursuant to a fine

In addition to seeking cancellation, the CCCS also proposed a fine to Grab and Uber. Both are considered to have undermined the entire online and conventional transportation industry in Singapore.

"This fine is explained by the fact that Grab and Uber remain active even though they know their potential harm to the competition in the market," said the representative of CCCS, KompasTekno Friday (6/7/2018), of VentureBeat .

It has not yet been described how the fines are nominal. The CCCS says that it will consider the representation of Grab and Uber before setting its nominal fine.

It is unclear whether this request will cancel the case of Grab and Uber in Lion country or not. Let's wait