March 30, 2018 / 7:06 AM / a year ago

Singapore's competition watchdog says Uber-Grab deal infringes competition

SINGAPORE, March 30 (Reuters) - Singapore’s competition watchdog said on Friday that it had reasonable grounds for suspecting competition had been infringed by the agreed deal by ride-hailing firm Uber Technologies Inc to sell its Southeast Asia operations to rival Grab.

The Competition Commission of Singapore has commenced investigation into the transaction and proposed interim measures that will require Uber and Grab to maintain their pre-transaction independent pricing, it said in a statement.

Uber and Grab announced the deal on Monday, marking the U.S. company’s second retreat from an Asian market. (Reporting By Miyoung Kim; Editing by Himani Sarkar)

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