While it is aware of Grab’s acquisition of Uber’s Southeast Asia business, Singapore’s competition watchdog said it has not received formal notifications from both parties.
The Competition Commission of Singapore (CCS) is writing to both companies to “clarify the details” of the deal, it said on Monday (Mar 26) in response to queries from Channel NewsAsia.
It noted that under Singapore’s competition law, mergers that may result in significantly lesser competition are prohibited.
“In the event CCS finds that a merger situation is expected to result in an SLC (substantial lessening of competition), CCS has powers to give directions to remedy the SLC,” it said.
For instance, it can require the merger to be unwound or modified. It can also issue interim measures prior to the final determination of the merger.
The Land Transport Authority (LTA) said in response to queries that it will study the impact of the Grab-Uber deal.