Singapore competition agency to look closer at Uber tie-up with ComfortDelGro

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SINGAPORE (Reuters) – Singapore’s competition commission said on Monday it plans to do further in-depth assessment of the tie-up between the city-state’s top taxi operator, ComfortDelGro, and Uber [UBER.UL], after an initial review. The agency said it had requested further information from both parties to be submitted by March 5, after which it will assess whether their tie-up infringes Singapore’s competition laws. “CCS (Competition Commission of Singapore) is unable to conclusively determine that competition issues will not arise,” it said in a statement. ComfortDelGro said in a statement that “both parties remain committed to this partnership”. ComfortDelGro said in December it would buy a 51 percent stake in a unit of Uber that runs a fleet of private hire vehicles, as the companies seek to bridge the gap with dominant ride-hailing firm Grab. Reporting by John Geddie; editing by Jason NeelyOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters