Singapore’s anti-trust watchdog fined ride-hailing firms Grab and Uber, a combined 9.5 million dollars over their merger-deal, and ordered Uber to sell vehicles from its local leasing business to any rival that makes a reasonable offer.
The deal invited regulatory scrutiny in the region, with the Competition and Consumer Commission of Singapore (CCCS) in a rare move – launching an investigation just days after the deal was announced.
The CCCS on Monday said it had finalised several measures to lessen the impact of the transaction on drivers and riders, and open up the market for new players.
It also said it had found the merger to have substantially reduced competition in the market.
The regulator said it has fined Uber S$6.6 million and Grab S$6.4 million, to deter future completed, irreversible mergers that harm competition.
It also ordered Grab to remove its exclusivity arrangements with drivers and taxi…
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