Another failed deal: Grab and Trans-cab will not proceed with their acquisition

Quick Summary:

The watchdog previously warned that the merger could reduce competition with rival platforms at the expense of drivers and passengers.

According to a press release, both Grab and Trans-cab informed the CCCS on Monday (July 22, 2024) of their decision to cancel the proposed deal.

In 2018, CCCS fined Grab and Uber S$13 million for their merger, which inevitably reduced market competition and increased prices.

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Article Details

Author / Journalist: Jayme Teo

Category: StartupsBusiness

Markets: SingaporeMalaysia

Topics: News Reader Editor's Picks Singaporean Singapore affairs Acquisitions Ride-hailing apps Startups Trans-cab Grab singapore

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 02:47:37 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: vulcanpost.com

Language: English

Article Length: 723 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Vulcan Post

News ID: 21779487

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About Vulcan Post

Main Topics: StartupsBusiness

Official Website: vulcanpost.com

Update Frequency: 1 posts per day

Year Established: 2015

Headquarters: Singapore

News Last Updated: 2 days ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #14

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