SINGAPORE, Oct 22 — Uber has decided to appeal a decision by the Competition and Consumer Commission of Singapore (CCCS) that its merger with regional rival Grab violated the Republic’s competition laws, the firm said this morning.
“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,” 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, the competition watchdog 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 South-east Asian business to bigger regional rival Grab in March in exchange for a 27.5 per cent stake in the Singapore-based firm. — Reuters
