July 11 (Reuters) - Nasdaq-listed ride hailing company

Grab's deal to buy Singapore's private taxi firm

Trans-cab Holdings is likely to result in substantial lessening

of competition in the local market, the city-state's competition

watchdog said on Thursday.

Southeast Asian firm Grab had in July 2023 agreed to buy

Singapore's third-largest taxi operator without giving out a

specific deal value though local media had then speculated the

deal could be valued at around S$100 million ($74 million).

The Competition & Consumer Commission of Singapore said in a

statement on Thursday that ride-hail platforms which operate as

rivals to Grab would be deprived of drivers who work for

Trans-cab, in case the deal goes through.

The deal might thereby result in a "greater degree of

'stickiness' of Trans-cab drivers to Grab's ride-hail platform",

the regulator said, adding the proposed acquisition might

potentially reduce usage of Grab's rivals.

Grab and Trans-cab did not immediately respond to Reuters'

requests for comments.

($1 = 1.3473 Singapore dollars)

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Mrigank

Dhaniwala)