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ComfortDelGro to buy 51% of Uber's car rental business in SG
« on: December 08, 2017, 07:35:37 pm »
SINGAPORE — Announcing its single largest deal to date,  Singapore's largest taxi operator ComfortDelGro said on Friday (Dec 8)  that it will pay S$642 million to acquire 51 per cent of Uber's  car-rental business in the Republic.

The deal, which is subject to regulatory approval, will  "create a path" for ComfortDelGro's cabbies to take on bookings via Uber's app.
Ms Tammy Tan, ComfortDelGro's group corporate communications  officer, said this would happen "soon", but did not specify a start date.

"By working together, we will be able to benefit from each other's strengths. Uber will benefit from our fleet maintenance and  management capabilities, while we will benefit from Uber's world-class  technology," ComfortDelGro's chief executive Yang Ban Seng said in a joint statement from the two companies.

More at https://www.prolificskins.com/forum/current-affairs/comfortdelgro-to-buy-51-of-uber-s-car-rental-business-in-sg



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Re: ComfortDelGro to buy 51% of Uber's car rental business in SG
« Reply #1 on: December 08, 2017, 09:25:22 pm »
I don't see the benefit for CDG but rather an exit strategy for Uber .... so help me out here? ???
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