CCS wants public consultation on ComfortDelGro-Uber collaboration
A public consultation on ComfortDelGro Corporation's proposed acquisition of a stake in Lion City Holdings from Uber Technologies will be held by The Competition Commission of Singapore (CCS).
It will also seek public feedback on a strategic alliance in relation to a commercial collaboration between ComfortDelGro and Uber.
The consultation will last till Jan 8.
According to ComfortDelGro, Lion and Uber, the three entities overlap in the rental and leasing of private cars, and the provision of taxi and chauffeur private hire car services.
Yesterday, CCS said that the rental car market is "extremely competitive", in view of factors like the presence of a large number of existing competitors in the market of varying sizes, business models, combinations and scale of operations, and private car usage, among other things, that prevent drivers from seeking other labour market opportunities.
Under the proposed acquisition, Lion will be under effective joint control of ComfortDelGro and Uber, and will operate as a full-function joint venture.
Earlier this month, ComfortDelGro announced that it intends to acquire a 51 per cent stake in Lion, an Uber-owned rental car business. - STEPHANIE LUO