- Grab abandons Trans-cab acquisition after regulatory concerns.
- Deal would have added 2,200 taxis to Grab’s fleet.
- Competition watchdog ends assessment following companies’ withdrawal.
Grab’s ambitious plan to acquire Trans-cab, Singapore’s third-largest taxi operator, has come to an abrupt halt.
Both companies have withdrawn their application from the Competition and Consumer Commission of Singapore (CCCS), effectively ending the proposed deal.
Grab keeps mum on u-turn
The CCCS had previously raised concerns about the acquisition, stating that it would significantly reduce competition in the market.
The watchdog’s provisional decision on July 11 gave Grab and Trans-cab a 10-day window to address these issues, but the companies opted to abandon the deal instead.
When asked about the reasons behind the decision, Grab remained tight-lipped, offering no additional comments beyond their initial statement from July 11.
The CCCS has encouraged businesses to engage them early in the acquisition process to address potential competition concerns proactively.
To read the original article: https://www.techinasia.com/grabs-acquisition-of-trans-cab-falls-through
