SINGAPORE (May 28): CGS-CIMB Research is maintaining its “hold” call on ComfortDelGro with an unchanged target price of $2.37 after announcing it was parting ways with Lion City Rental (LCR), Uber’s wholly-owned car rental subsidiary, in Singapore.
This comes after ComfortDelGro last week said it would no longer be acquiring a 51% stake in Lion City Holdings, the operator of LCR, following Uber’s exit from the Southeast Asian market after its acquisition by its rival, Grab.
See: ComfortDelGro and Uber part ways; Lion City acquisition terminated
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)