Singapore says Uber-Grab deal may violate competition laws

Uber’s exit from Southeast Asia is under scrutiny from regulators in Singapore who believe that Grab’s purchase of the U.S. firm’s business in the region may violate competition laws.
Singapore-based Grab,Uber’s chief rival in the region, announced the acquisition of Uber’s Southeast Asian business on Monday. In return, Uberis taking 27.5 percent of the Grab business, which is valued at over $6 billion, in a move that appears to be a win for both parties.