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BREAKING: Uber is preparing to sell Southeast Asia unit to Grab for stake in Grab
- Thread starter Hangover
- Start date
Steady lah, Grab wins in SEA. Uber does not know how to compete in this region. Grab is becoming bigger and richer.
Tony nx jxx mxxg, Its none of your business. You should go worry about your tuition thing.
Uber to sell Southeast operations to Grab, get stake in combined business: source
https://www.reuters.com/article/us-...ake-in-combined-business-source-idUSKBN1H10IY
SINGAPORE (Reuters) - Ride-hailing firm Uber Technologies [UBER.UL] has agreed to sell its Southeast Asian business to the region’s bigger rival Grab, a source with direct knowledge of the matter said on Sunday, in what would be the U.S. company’s second retreat from Asia. As part of the transaction, Uber would get a stake of as much as 30 percent in the combined business, the source said. He did not want to be identified as the deal is not public yet.
https://www.reuters.com/article/us-...ake-in-combined-business-source-idUSKBN1H10IY
SINGAPORE (Reuters) - Ride-hailing firm Uber Technologies [UBER.UL] has agreed to sell its Southeast Asian business to the region’s bigger rival Grab, a source with direct knowledge of the matter said on Sunday, in what would be the U.S. company’s second retreat from Asia. As part of the transaction, Uber would get a stake of as much as 30 percent in the combined business, the source said. He did not want to be identified as the deal is not public yet.
Uber is useless even in the US.
This move will only attract investors to Indonesia's Go-jek.
While grab is allowed hassle free into indonesia, we prevented Go-jek from coming in. Talk about our free economy. Its the reverse.indonesia's economy is more open. If they can ensure their judges are fair to foreign investors and not side with their local businesses, nothing can stop them from further progress.
This move will only attract investors to Indonesia's Go-jek.
While grab is allowed hassle free into indonesia, we prevented Go-jek from coming in. Talk about our free economy. Its the reverse.indonesia's economy is more open. If they can ensure their judges are fair to foreign investors and not side with their local businesses, nothing can stop them from further progress.
my uncle say KNN only tam chia ter nao self inflicted sinkie loser will take grab and uber during their peak hour surge price. he say non loser take during the low price and discount code hence uber and grab can chia sai close shop when time comes.
I hope Lyft will come in with Go-jek.
Grab has a problem with their value system. I drove Uber when I was jobless. I had two friends who drove grab.
Friend 1:
Chee BYE Grab hires ah bengs. Ah Bengs never mind, but xia lan arrogant ah bengs like those in Sim Lim Squares.
It is not uncommon to get complains from unreasonable or shitskin customers, then the Grab Investigation Officers think they are like Police IOs, chao chee bye bastards.
They only side passengers, they chin chye suspend 2 of my friends who are honest hardworking people who still have car lease with Grab. I have a friend who really cry and plead with the chao Grab ah bengs. CURSE THEM TO HELL!! His child was due soon, and he got to pay for his home loan and Grab's lease. In the end, i lent my friend money to tide him through.
(Grab's lease vehicle cannot be used for Uber, unless u pay for another insurance).
Friend 2:
My second friend drove Grab for almost 2 years before he switched to Uber. He analyzed that experienced Grab drivers had a general consensus in their groupchat, that Grab pays them a more attractive fare in their earlier days and a lower fare as they drive more. Grab milks senior drivers for better margins as Grab has no lack of new drivers and they prefer new drivers because they are fresh and more motivated OR new drivers who left Uber and taxi companies (which hurt their competitors).
This deal should be blocked for sure. If that happens, Grab can charge any price they want and screw all consumers. Think of it as Singtel being the only Telco in Singapore. Sure u can get other telcos to lease network capacity from Singtel, but ultimately there will be a compromise in the offerings.
Monopoly is not good.
Maybe an opportunity for a new player? Ah Beng, where are you ?
U think too highly of the chaps in here. U think they are jetting off to New York to hold a power meeting with stakeholders or attend a convention at Geneva?
The average clown here travels to JB for cheap petrol, to Batam for cheap massage, and on special occasions go to Korea to pacify their wives.
Looking at Singapore alone, they are mighty: Uber Flash (Comfort) + Uber + Grab.
But if Singapore is the regional HQ for both, it might not be blocked because Singapore's business is <50% of their Southeast Asian business.
Will regulators in other Southeast Asian nations object?
Grab will be loser like PAP.
Uber is Rand and Google are super high technology companies. They must hv a new technology coming and loser Grab cannot match them.
How will no tech copy cat Grab match them in the next phase of driverless technonolgy?
Will see.
Uber is Rand and Google are super high technology companies. They must hv a new technology coming and loser Grab cannot match them.
How will no tech copy cat Grab match them in the next phase of driverless technonolgy?
Will see.
PAP stepping in to ensure sinkies don't get stuck with a monopoly that will hold us hostage. Majulah PAP!
SINGAPORE - Regulators are prepared to step in to ensure that ride-hailing firm Grab’s acquisition of rival Uber's South-east Asian business does not erode competition or result in a monopoly.
The Competition Commission of Singapore (CCS) said on Monday (March 26) that if it saw this happening, it could ask for the merger - which both Grab and Uber confirmed on Monday - to be modified, or even unwound.
The Land Transport Authority said it was also watching the development closely.
"We will ensure that no one single market player dominates the sector to the detriment of commuters and drivers," it said.
Meanwhile, taxi giant ComfortDelGro, which had entered into an alliance with Uber, said it is now reviewing "all aspects of its proposed tie-up" with the American firm.
The CCS said competition laws prohibit mergers that may result in a substantial lessening of competition, and indicated that it could "require the merger to be unwound or modified" or it could also "consider issuing interim measures prior to the final determination of the merger".
A Grab spokesman said: "We will make a merger notification to the Competition Commission of Singapore."
She added that the company had also informed the Land Transport Authority of its acquisition, which includes Uber's food delivery businesses.
The Grab spokesman said UberFlash - an app Uber launched with ComfortDelGro - will cease on April 8 while the UberEats app will run until the end of May.
ComfortDelGro spokesman Tammy Tan said: "We are reviewing all aspects of the proposed tie-up with Uber Technologies, which is currently under review by the CCS."
The LTA added that it was reviewing a regulatory framework to license private-hire car operators.
"The strategic intent is to keep the private-hire car and taxi industries open and contestable," it noted.
http://www.straitstimes.com/singapo...ggers-watchdog-scrutiny-ubers-partner-rethink
SINGAPORE - Regulators are prepared to step in to ensure that ride-hailing firm Grab’s acquisition of rival Uber's South-east Asian business does not erode competition or result in a monopoly.
The Competition Commission of Singapore (CCS) said on Monday (March 26) that if it saw this happening, it could ask for the merger - which both Grab and Uber confirmed on Monday - to be modified, or even unwound.
The Land Transport Authority said it was also watching the development closely.
"We will ensure that no one single market player dominates the sector to the detriment of commuters and drivers," it said.
Meanwhile, taxi giant ComfortDelGro, which had entered into an alliance with Uber, said it is now reviewing "all aspects of its proposed tie-up" with the American firm.
The CCS said competition laws prohibit mergers that may result in a substantial lessening of competition, and indicated that it could "require the merger to be unwound or modified" or it could also "consider issuing interim measures prior to the final determination of the merger".
A Grab spokesman said: "We will make a merger notification to the Competition Commission of Singapore."
She added that the company had also informed the Land Transport Authority of its acquisition, which includes Uber's food delivery businesses.
The Grab spokesman said UberFlash - an app Uber launched with ComfortDelGro - will cease on April 8 while the UberEats app will run until the end of May.
ComfortDelGro spokesman Tammy Tan said: "We are reviewing all aspects of the proposed tie-up with Uber Technologies, which is currently under review by the CCS."
The LTA added that it was reviewing a regulatory framework to license private-hire car operators.
"The strategic intent is to keep the private-hire car and taxi industries open and contestable," it noted.
http://www.straitstimes.com/singapo...ggers-watchdog-scrutiny-ubers-partner-rethink
My sentiments
Thats why oppo party must be in parliament to prevent ruling party monopolized sinkapore. So that they dont suka suka do anything they want without anyone raise doubts.
Stop simi? Acting?
Either way temasek win
People mati
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