July 11, 2018 / 9:11 AM / 4 months ago

Malaysia studying monopoly risk in ride-hailing market after Grab-Uber deal

FILE PHOTO: A ComfortDelgro taxi passes Uber and Grab offices in Singapore March 26, 2018. REUTERS/Edgar Su/File Photo

KUALA LUMPUR (Reuters) - Malaysia is studying monopoly risk in the ride hailing market following the merger of Grab and Uber, the transport ministry said on Wednesday.

Uber Technologies Inc sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm.

“The government is studying the e-hailing service monopoly risk after the merger between Grab and Uber through the Malaysia Competition Commission,” the ministry said in a statement, adding that e-hailing services in the country will be regulated from Thursday.

Reporting by Liz Lee; Writing by A. Ananthalakshmi; Editing by Gopakumar Warrier

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