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Uber+sells+its+South+East+Asia+business
Monday, 26 March 2018 - 12:42
Uber sells its South East Asia business
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Uber is selling its South East Asia ride-share and food delivery businesses to regional rival Grab.
 
The move marks a further retreat from international operations for Uber after it sold its China business to local rival Didi Chuxing.
 
Both firms describe the deal as a win for their passengers, but analysts warn it could mean higher prices.
 
Grab is South East Asia's most popular ride-sharing firm with millions of users across eight countries.
 
Under the terms of the deal, Uber will take a 27.5% stake in Singapore-based Grab. Uber's chief executive, Dara Khosrowshahi, will also join Grab's board.
 
The value of the deal has not been made public.
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