Grab’s takeover of Singapore taxis may breach competition law: watchdog

SINGAPORE — Ride-hailing company Grab’s plan to buy Singapore’s third-largest taxi operator will “significantly reduce” competition between rival platforms and strengthen Grab’s dominant market position, its competition watchdog said on Thursday.

In an interim decision, the Singapore Competition and Consumer Commission said the acquisition would “likely perpetuate and strengthen” Grab’s already dominant position and reduce competition in the passenger transport market, in breach of a law prohibiting anti-competitive mergers.