• Home
  • Apps
  • Apps News
  • Uber to Appeal Singapore's Competition Watchdog Decision on Grab Deal

Uber to Appeal Singapore's Competition Watchdog Decision on Grab Deal

Uber to Appeal Singapore's Competition Watchdog Decision on Grab Deal
Highlights
  • The decision by regulator is unsupported and incorrect: Uber
  • Last month, Singapore slapped Grab and Uber with fines
  • Uber sold its Southeast Asian business to regional rival Grab in March
Advertisement

Uber Technologies has decided to appeal a decision by the Singapore competition regulator that its merger with regional rival Grab violated the city-state's competition laws, the firm said on Monday.

"Our objective is not to challenge the remedies of the decision, which are in fact almost identical to the commitments that Uber and Grab voluntarily offered to the CCCS (Competition and Consumer Commission of Singapore)," Uber said in a statement.

"Rather, we aim to clarify that the conclusion that our transaction with Grab led to a substantial lessening of competition, and that Uber intentionally breached the law, is unsupported and incorrect," it added.

Last month, Singapore slapped ride-hailing firms Grab and Uber with fines and finalised restrictions to open up the market to competitors after concluding that their merger had driven up prices.

Uber sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a 27.5 percent stake in the Singapore-based firm.

© Thomson Reuters 2018

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Uber, Grab
WhatsApp Tells Companies to Stop Spam Amid Brazil Elections
Call of Duty: Black Ops 4’s Black Market Live on PS4, PC and Xbox One This Friday
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »