Uber to appeal Singapore's competition watchdog decision on Grab deal

SINGAPORE: Uber Technologies has decided
to appeal a decision by the Singapore competition regulator that its
merger with regional rival Grab violated the city-state's competition
laws, the firm said on Monday (Oct 22).

"Our objective is not to challenge the remedies of the decision, which
are in fact almost identical to the commitments that Uber and Grab
voluntarily offered to the CCCS (Competition and Consumer Commission of
Singapore)," Uber said in a statement.

"Rather, we aim to clarify that the conclusion that our transaction with
Grab led to a substantial lessening of competition, and that Uber
intentionally breached the law, is unsupported and incorrect," it added.

Last month, Singapore slapped ride-hailing firms Grab and Uber with
fines and finalised restrictions to open up the market to competitors
after concluding that their merger had driven up prices.

Uber sold its Southeast Asian business to bigger regional rival Grab in
March in exchange for a 27.5 per cent stake in the Singapore-based firm.

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