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Uber sold its south-east Asian operations to Grab in March in return for a 27.5 per cent in the Singapore-based company. “Mergers that substantially lessen competition are prohibited and Competition and Consumer Commission has taken action against the Grab-Uber merger because it removed Grab’s closest rival, to the detriment of Singapore drivers and riders,” said Toh Han Li, chief executive of the commission. The commission said Grab held 80 per cent of the market and that exclusivity agreements with drivers and taxi companies hampered the ability of competitors to enter the market.
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