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Photo by Grab from Unsplash
Grab and Trans-cab deal called off
Both parties have withdrawn their application from the CCCS.
Grab’s proposed acquisition of Trans-cab Holdings via GrabRentals has been called off, as both parties agreed to withdraw the deal, the Competition and Consumer Commission of Singapore (CCCS) said.
Accordingly, the competition watchdog has ended its assessment of the proposed acquisition after both parties have withdrawn their application.
The CCCS previously stated that the proposed acquisition could significantly reduce competition in Singapore's ride-hail market. The deal would entrench Grab’s position and disadvantage rival platforms by limiting their access to drivers from Trans-cab.
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