On Monday, Grab announced that it will take over Uber Technologies’ operations and assets in Southeast Asia by integrating Uber’s ridesharing and food delivery businesses into Grab’s existing multimodal transportation and fintech platform. Grab stated it would submit the relevant merger notification to the Competition Commission of Singapore.
SINGAPORE (Mar 27): CIMB expects ComfortDelGro to stay unexciting in the near term given the many uncertainties surrounding the latest developments in Singapore’s ride-hailing sector.
"We maintain our 'hold' call and DCF-based target price of $2.16, pending further information on the proposed ComfortDelGro-Uber deal," says lead analyst Cezzane See in a Tuesday report.
