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Uber and Grab hit with $9.5M in fines over 'anti-competitive' merger
2018-09-24T06:13:03Z - Jon Russell / TechCrunch
Uber and Grab have been hit with combined fines of $9.5 million after their merger deal was found to have violated Singapore’s anti-competition laws. The fines relate only to the businesses in Singapore, which is just one of eight markets where Uber and Grab competed. Chiefly, the CCCS found that Grab had raised prices by 10-15 percent following the deal, whilst its market share grew to 80 percent. One part to highlight is its apparent insistence that the merger deal did not significantly impact competition. Shiau’s statement is something that the 80 percent market share stat suggests is untrue.

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