Wednesday, 13 Jan 2021 06:35 PM MYT
CCCS had deemed that the American ride-hailing giant’s sale of its South-east Asian business to Grab for a 27.5 per cent stake in the latter had resulted in a “substantial lessening in competition” in the ride-hailing platform market here.The Competition Appeal Board — which hears appeals against decisions by the competition watchdog — ordered Uber to pay CCCS’ costs in relation to the appeal. That sum was not specified in the media release.
While Singapore has a voluntary notification merger regime, CAB noted that it does not mean there are no risks to parties in proceeding with a merger before first notifying CCCS. Said CCCS chief executive Sia Aik Kor: “The CAB’s decision affirms the key findings made by CCCS in the Infringement Decision and reinforces the message that mergers that substantially lessen competition in Singapore are prohibited”.