Grab cancels acquisition of Trans-Cab due to CCCS provisional decision on competition concerns.
Grab has cancelled its acquisition of Singapore taxi firm Trans-Cab after the Competition and Consumer Commission of Singapore (CCCS) issued a provisional decision on July 11, finding that competition would be significantly reduced if the deal went through. Grab did not provide further details on why they decided not to proceed. The CCCS encourages businesses with acquisition plans to engage with the commission early if they believe their plans may raise competition concerns.
July 25, 2024
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