Singapore: Announced CCCS investigation Uber's acquisition of a 27.5 per cent stake in Grab

On 27 March 2018, the Competition and Consumer Commission of Singapore (CCCS) announced an investigation into Uber's acquisition of a 27.5 per cent stake in Grab Holdings Inc. (Grab), which Grab publicly announced on 26 March 2018. The investigation was initiated as there were reasonable grounds for suspecting that section 54 of the Competition Act 2004 had been infringed. The CCCS noted that the transaction could significantly reduce competition in the ride-hailing, courier, and food delivery market in Singapore. These services depend on an interconnected network involving riders, food and beverage businesses, and consumers, creating indirect network effects that benefit the leading platform. A well-established platform with high usage attracts more riders, businesses, and consumers, thereby reinforcing its market position over less established competitors offering similar services.