Follow us on Whatsapp for the latest updates Follow us on Telegram for the latest updates Grab-Uber Merger Cost Companies $13 Million Remember how angry you were when you heard that Uber was pulling out of Singapore? Now it’s time for sweet, sweet revenge. The Competition and Consumer Commission of Singapore (CCCS) has fined both companies a total of $13 million for their move. The fine was announced on Monday (24 Sept). Grab was fined $6.42 million while Uber was fined $6.58 million. And to add to the good news, CCCS has instructed Grab to retain its pre-merger pricing algorithm. This means we could enjoy lower fares in the near future, since CCCS alleges that fares have increased by up to 15% since the Grab-Uber merger. Grab-Uber merger criticised CCCS said the penalties were imposed to “deter completed, irreversible mergers that harm competition”. And regular private hire car passengers know that competition has indeed been harmed. Let’s count the ways: Grab has reportedly quietly raised its fares. Grab, however, denies this. Promo codes are few and far between Changes to the GrabRewards Scheme have reduced the number of points earned by riders on trips And then there was the issue of exclusivity. … Continue reading Grab Fined $6.4M, Ordered To Return To Pre-Merger Pricing Algorithm