SINGAPORE -- Regional ride-hailing giant Grab has withdrawn its plan to acquire Singaporean taxi operator Trans-cab, the city-state's competition watchdog announced Thursday, after authorities raised concerns that the merger would reduce competition in the local market.
Transportation
Grab ends plan to acquire Singapore taxi firm Trans-cab
Companies withdraw application after antitrust watchdog raised concerns
Grab has abandoned a plan to acquire Singaporean taxi operator Trans-cab in light of concerns from authorities that the merger would reduce competition in the market. © Reuters
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