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Singapore Says Grab-Uber Hurt Consumers, Proposes Penalties
- Less competition is leading to higher prices, watchdog says
- Grab-Uber has 15 days to respond to competition agency
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Singapore threatened to force Grab to lower prices and revamp parts of its business, accusing the ride-hailing company of abusing its dominance after acquiring Uber Technologies Inc.’s Southeast Asian business.
Grab will have to abolish some driver restrictions, restore pre-merger pricing formulas and pay unspecified financial penalties, the Competition and Consumer Commission of Singapore said in a statement Thursday, citing complaints from riders and drivers. Uber will have to sell Lion City Rentals to any potential competitor with a reasonable offer, and not be allowed to sell the car-rental service for drivers to Grab without the agency’s approval, the agency said.