SINGAPORE -- Ride-hailing company Grab's plan to buy Singapore's third-largest taxi operator will "significantly reduce" competition between rival platforms and strengthen its dominant market position, the city-state's competition watchdog said on Thursday.
In a provisional decision, the Competition and Consumer Commission of Singapore said the takeover is "likely to entrench and strengthen" Grab's already dominant position and reduce competition in the ride-hailing market, infringing the law that prohibits anti-competitive mergers.
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