It appears the deal has been sealed between Uber and Grab in Southeast Asia.
According to a Bloomberg report on Sunday, Uber “has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab”.
Once official, the deal means the operations of Uber (including Uber Eats) in Southeast Asia will be handed over to Grab, leaving only a stake of 25 to 30 per cent left for Uber.
After leaving China’s ride-hailing market in 2016, this deal is another hit to Uber’s capacity to catch up with local competitors.
Neither Grab nor Uber has issued a statement regarding the agreement.
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