Grab/Uber merger: CCCS Provisionally Finds that the Merger Has Substantially Lessened Competition, Proposes Directions to Restore Market Contestability and to Impose Financial Penalties
The Competition and Consumer Commission of Singapore (“CCCS”) has issued a Proposed Infringement Decision (“PID”) against Grab and Uber (each a “Party”, and collectively the “Parties”) in relation to the sale of Uber’s Southeast Asian business to Grab in consideration of Uber holding a 27.5% stake in Grab (“Transaction”). In the PID, CCCS has provisionally found that the Transaction has led to a substantial lessening of competition (“SLC”) in the provision of chauffeured point-to-point transport (“CPPT”) platform services in Singapore (i.e. ride-hailing platform services).
2. On 26 March 2018, Grab and Uber announced and completed the Transaction, and began the transfer of the acquired assets immediately. On 27 March 2018, CCCS commenced an investigation into the Transaction which constitutes a merger under the Competition Act. On 13 April 2018, Interim Measures Directions were issued by CCCS to help ensure that the market remains open and contestable during CCCS’s investigation.
3. CCCS has concluded its investigation after obtaining evidence from the Parties and third parties. CCCS has provisionally found that the Transaction has removed competition between Grab and Uber, which were each other’s closest competitor. The merged entity is likely to be able to increase prices and has in fact done so since the completion of the Transaction.
4. The Parties have 15 working days from the receipt of the PID to make their representations to CCCS. CCCS will then make its final decision, after consideration of the representations, comments/feedback on the proposed remedies, as well as all available information and evidence.
More information on the case may be accessed at https://www.cccs.gov.sg/media-and-publications/media-releases/grab-uber-merger-pid
 The PID sets out the facts on which CCCS relies and the reasons for arriving at the proposed decision. It is issued to provide Parties with an understanding of the basis for CCCS’s provisional findings, to assist Parties to make representations and provide any other information to support Parties’ representations for CCCS’s consideration.
 All references to “Grab” in this media release may refer to Grab Inc., and its subsidiaries and any other related entities including but not limited to GrabCar Pte. Ltd., GrabTaxi Holdings Pte. Ltd., GrabTaxi Pte. Ltd., Grab Rentals Pte. Ltd. and Grab Rentals 2 Pte. Ltd.
 All references to “Uber” in this media release may refer to Uber Technologies, Inc., and its subsidiaries and any other related entities including but not limited to Uber Singapore Technology Pte. Ltd., Lion City Holdings Pte. Ltd., Lion City Rentals Pte. Ltd., Lion City Automobiles Pte. Ltd., and LCRF Pte. Ltd..
 The Interim Measures Directions remain effective until such time CCCS issues a final decision or otherwise resolves any competition concerns that may arise from the Transaction, or unless otherwise varied by CCCS due to material changes in market conditions.
 Prices net of rider promotions and driver incentives.