Uber plans to sell Southeast Asia business to Grab

No deal has been reached yet and the timing of any deal is uncertain, the report said


Reuters February 17, 2018
A man arrives at the Uber offices in Queens, New York, US on February 2, 2017. PHOTO: REUTERS

Uber is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter.

No deal has been reached yet and the timing of any deal is uncertain, the report said.

British PM May says Uber should not be shut down

Reuters reported in November that SoftBank’s multi-billion dollar investment in Uber had opened up the possibility of combining it with other ride-hailing assets that the Japanese group owns.

Uber declined to comment on the report.

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