Ryde agrees with watchdog's finding that Grab-Uber merger infringed competition laws


Chief executive officer and founder of Ryde Terence Zou said the decision by the Competition and Consumer Commission of Singapore was a step in the right direction.
Chief executive officer and founder of Ryde Terence Zou said the decision by the Competition and Consumer Commission of Singapore was a step in the right direction.PHOTO: LIN ZHAOWEI FOR THE STRAITS TIMES

SINGAPORE - Ride-hailing firms have agreed with a competition watchdog's finding that Grab's acquisition of Uber's South-east Asian business infringed competition laws.

Mr Terence Zou, chief executive officer and founder of Ryde, a local point-to-point transport application, said the decision by the Competition and Consumer Commission of Singapore (CCCS) was a step in the right direction.

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