Singapore's competition watchdog had looked into the likelihood of the now-collapsed talks between Grab Holdings and Delivery Hero raising worries about competition in the food delivery market, the regulator said on Monday (April 1).
A man walks past a Grab office in Singapore March 26, 2018.Singapore's competition watchdog had looked into the likelihood of the now-collapsed talks between Grab Holdings and Delivery Hero raising worries about competition in the food delivery market, the regulator said on Monday .
Germany's Delivery Hero had been looking to divest its foodpanda business in some Southeast Asian markets and media reports from September had said Singapore-based Grab could be a potential buyer. The Competition and Consumer Commission of Singapore said it started an investigation into this potential tie-up in early January.
Grab and foodpanda control about 91 per cent of Singapore's US$2.5 billion food delivery market, according to a report by research firm Momentum Works, with Grab alone having a 63 per cent market share. The CCCS, however, closed its investigation on Feb 23, after Delivery Hero scrapped plans of a potential sale and Grab said it was not pursuing any such deal.Grab and Delivery Hero did not immediately respond to Reuters' requests for comment.
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