Ecosystem Roundup: Grab-Trans-cab deal falls through | MoneyHero slashes 80 jobs | Qoo10’s Korean units face probe

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Ecosystem Roundup: Grab-Trans-cab deal falls through | MoneyHero slashes 80 jobs | Qoo10’s Korean units face probe - e27

Quick Summary:

Dear reader, The cancellation of Grab’s proposed acquisition of Trans-cab, Singapore’s third-largest taxi operator, marks a significant shift in the competitive landscape of the city-state’s transportation sector.

The decision, prompted by concerns from the Competition and Consumer Commission of Singapore (CCCS), underscores the regulatory body’s commitment to maintaining fair competition and preventing monopolistic dominance.

The country’s Fair Trade Commission has launched an investigation into two Qoo10-owned Ticketmonster and WeMakePrice—for failing to pay out funds to merchants; The two firms collectively owe US$123 million to around 60,000 merchants.