SINGAPORE—Uber Technologies Inc.’s merger with Southeast Asian rival Grab Inc. hit a road bump after regulators said the deal reduced ride-hailing competition in the city, threatening to unwind the deal if the companies don’t respond to their concerns.
Singapore’s antimonopoly watchdog on Thursday said it provisionally found that the deal had led to a “substantial lessening of competition” and proposed financial penalties for the two companies as well as demanded measures to enable greater competition.
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