Singapore's Competition and Consumer Commission has slapped the city-state's most notable start-up, Grab, with a fine for its takeover of Uber's Southeast Asia operation.
But, at just S$13 million $9.5 million, the penalty can hardly dent Grab's latest valuation of $11 billion and represent less than 1% of the $1 billion the company raised in its last fundraising in August. The regulator ruled out blocking the transaction, instead taking measures to reduce the impact of the transaction, including unwinding exclusivity agreements.
For Southeast Asia's biggest unicorn and its investors, the modest penalty is great news, clearing the way for the company to achieve...
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