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Uber-Grab deal: Uber app extended to April 15
THE Uber app, which was due to be deactivated on April 8, will now stay on till April 15 as the competition watchdog decides on its next move.
In a statement released Thursday , the Competition and Consumer Commission of Singapore (CCCS) said both Uber and Grab have responded to propose a set of "alternative interim measures" ahead of the CCCS' decision to impose its own set of interim measures.
These proposed measures are understood to help preserve part of the status quo prior to Grab's acquisition of Uber's South-east Asian business.
"To facilitate CCCS's deliberation on their written representations and the proposed alternative interim measures, the parties have agreed to extend the initial shutdown date of the Uber ride-hailing app in Singapore from April 8 to April 15, 2018," the CCCS said in a statement.
The CCCS last Friday said it had grounds to suspect that Grab and Uber have infringed the Competition Act, and had proposed interim measures to preserve competition while it investigates their merger.
These measures included making Grab and its American ride-hailing rival Uber maintain independent pricing, pricing policies and product options as they were before the sale.
The commission also said then that if interim measures were to be imposed both companies must not take any action that will lead to the integration of their businesses in Singapore, and affect the viability and saleability of the businesses.
They also should not take actions that could prejudice the commission's ability, power and options to subsequently direct the divestment of business operations in the affected markets.
THE STRAITS TIMES