SINGAPORE - Ride-hailing firm Grab will submit a written representation on July 26 appealing against the consumer watchdog's decision on its acquisition of Uber's business here.
Grab's chief executive Anthony Tan confirmed this on Tuesday (July 10), during a press conference about new initiatives the company was rolling out.
The Competition and Consumer Commission of Singapore (CCCS) said last week (July 5) that the deal between the two ride-hailing services - first announced in March - had "substantially lessened" competition in the point-to-point transportation sector and that it was "anti-competitive".
The commission proposed several measures to ensure market contestability, including imposing financial penalties on both Grab and Uber for proceeding with the acquisition and the removal of exclusivity clauses between Grab and cab companies.
Mr Tan said Grab had complied with the law in its acquisition of Uber and he was confident of Grab's chances with its appeal.
Grab values cooperation with governments, he said, pointing to initiatives such as partnering with the Government Technology Agency of Singapore for GrabShuttle.
Mr Tan noted in spite of Grab's acquisition of Uber's business, there was still "tremendous competition" in the transportation sector, pointing to taxi operators such as ComfortDelGro, which has not partnered with Grab.