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Grab is said to close deal for Uber South-East Asia business


 Grab would buy out Uber’s operations in certain markets in South-East Asia and Uber will take a stake in Grab. — Bloomberg

Grab would buy out Uber’s operations in certain markets in South-East Asia and Uber will take a stake in Grab. — Bloomberg

Grab, the dominant ride-hailing service in South-East Asia, is close to finalising a deal to acquire Uber Technologies Inc's business in the region and may sign a deal this week or next, according to people familiar with the matter.

Under terms of the proposed agreement, Grab would buy out Uber's operations in certain markets in South-East Asia and Uber will take a stake in Grab, the people said, asking not to be named because the talks are private.

   

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