Competition watchdog slaps $13 mil fine on Grab, Uber over merger

SINGAPORE (Sept 24): The Competition and Consumer Commission of Singapore (CCCS) has fined Uber and Grab a total of $13 million after the merger of the ride-hailing firms was judged to have led to a “substantial lessening of competition”.

Grab in March acquired Uber’s Southeast Asian business, which saw the integration of Uber’s regional ride-sharing and food delivery business into Grab’s existing multi-modal transportation and fintech platform.

In exchange, Uber took a 27.5% stake in Grab, with CEO Dara Khosrowshahi joining Grab’s board.

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