According to CCCS, the transaction has infringed section 54 of the Competition Act (prohibiting mergers that have resulted, or may be expected to result, in a substantial lessening of competition in Singapore).
SINGAPORE (July 6): DBS says that the path and eventual outcome of the Grab-Uber merger remains uncertain.
This comes on the back of Thursday's announcement by Competition and Consumer Commission of Singapore (CCCS) that the Grab-Uber merger has significantly reduced competition in the ride-hailing business in Singapore.
