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Possible Grab, foodpanda deal raised concerns: Competition watchdog
The Straits Times
|April 02, 2024
Probe was started into proposed acquisition, which was later abandoned
A possible deal between Grab and foodpanda, which has since fallen through, had raised potential worries about competition in the food delivery market, said Singapore's competition watchdog.
The Competition and Consumer Commission of Singapore (CCCS) said on April 1 that it had started a probe on Jan 10 into the possible acquisition by Grab Holdings of the whole or part of the business of foodpanda operator Delivery Hero in South-east Asia, including Singapore.
"At the time, CCCS had reason to suspect that the possible transaction might result in a substantial lessening of competition in the market for the supply of online food ordering and delivery services in Singapore, which is characterised by few large players, high entry barriers and strong network effects," it said in a statement.
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