Singapore proposes fines on Grab, Uber, says merger harms competition

FILE PHOTO: A passenger of Grab bike fixes her helmet next to Uber driver at Manggarai train station in Jakarta, Indonesia, March 26, 2018. REUTERS/Beawiharta/File Photo

SINGAPORE: Singapore's antitrust body proposed fines on ride-hailing firms Grab and Uber, provisionally finding that their merger had reduced competition and suggesting remedies such as the sale of their car-leasing businesses. 

The Competition and Consumer Commission of Singapore (CCCS) also warned that it may require the companies to unwind the merger depending on whether the remedies are successful but added a reversal may not be feasible, citing Uber's exit from the market after the deal.