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Uber exited Southeast Asia in March in exchange for a 27.5% stake in its local competitor
SINGAPORE—Regulators fined ride-hailing firms Grab Inc. and Uber Technologies Inc. and imposed operating restrictions on the former after ruling that a merger earlier this year was anticompetitive.
The Competition and Consumer Commission of Singapore said Monday it would fine Uber 6.6 million Singapore dollars (US$4.8 million) and Grab S$6.4 million. Restrictions on Grab will include a ban on exclusivity agreements with drivers.