The Competition and Consumer Commission of Singapore (CCCS) on Monday (Oct 16) raised competition concerns about a plan by Southeast Asian ride-hailing company Grab to acquire Singapore's third-largest taxi operator, Trans-cab.
The commission said in a statement that it was unable to conclude at the end of its first phase of review of the proposed acquisition that the deal did not give rise to any competition concerns.
Grab and Trans-cab may offer commitments to address any competition concerns raised, it said, adding that otherwise it would proceed to a more in-depth, second phase of review after receiving relevant documents from the companies. The Grab spokesperson said both Grab and Trans-cab were committed to ensuring the benefits of an acquisition to commuters and they would help raise the overall standards of the industry.
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