A Grab motorbike helmet is displayed during Grab's fifth anniversary news conference in Singapore June 6, 2017.
PHOTO: REUTERS
Singapore competition watchdog fines Grab, Uber $9.5 million over merger
Grab is expected to close the deal in the next few days, the report said.
The proposed investment is part of Oyo’s ongoing $1 billion funding round and will be made through A1, an entity controlled by Grab, the report said.
Grab, known as the Uber of Southeast Asia, was valued at around $11 billion at its last funding round in August, sources have told Reuters.
Uber launches taxi-hailing app in Japan's Nagoya
Neither Grab nor Oyo immediately responded to Reuters’ requests for comment.
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