Saturday, 05 Dec 2020 10:42 AM MYT
In response to TODAY’s queries on Thursday, it said that it is aware of news reports on the two companies having made substantial progress in working out a deal to combine their businesses.The statutory board under the Ministry of Trade and Industry added that Section 54 of the Competition Act prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition.
“There is speculation again about a Gojek deal,” Tan wrote in the note on the company’s internal communication platform. In 2018, CCCS had ruled that Grab’s merger with American ride-hailing firm Uber’s Southeast Asian arm was an infringement of competition laws and imposed a S$13 million fine on the two businesses.
I smell monopoly