Singapore: Grab, Uber and the fare-rising scandal

RIDE-HAILING companies Grab and Uber struck a deal (merger) earlier this year, with Uber selling its Southeast Asia (SEA) business to rival Grab in March in exchange for a 27.5 percent stake in the Singapore-based firm. Soon after, several governments in the region — led by Singapore’s Competition and Consumer Commission — raised concerns about how the transaction would impact the economy, jobs in the region, consumers, and mobility as a whole. Although successive discussions with executives at Uber and Grab didn’t offer many answers, the governments decided to wait, watch, and analyse how it plays out. SEE ALSO: Grab unveils future plans for ridesharing in Southeast Asia Singapore Competition and Consumer Commission — again leading the pack — concluded that the merger has negatively impacted the market and driven up prices for consumers. As a result, the regulator has decided to levy a fine of SGD13 million (US$9.5 million) on Grab, the...


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