A view of Uber and Grab offices in Singapore March 26, 2018. (Reuters file photo)SINGAPORE: Singapore's anti-trust watchdog fined ride-hailing firms Grab and Uber a combined S$13 million (309 million baht) over their merger deal, and ordered Uber to sell vehicles from its local leasing business to any rival that makes a reasonable offer. US-based Uber Technologies Inc sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a 27.5% stake in the Singapore-based firm. 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 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.

Source: Bangkok Post September 24, 2018 05:15 UTC