Uber is reportedly preparing to sell its Southeast Asian business to Grab


Uber is preparing to sell its Southeast Asian business to Grab in exchange for a stake in the Singaporean ridesharing company that has a big presence in that region, according to a new report from CNBC.

This wouldn’t be an unfamiliar story for Uber, which was handily beaten by Didi in China before eventually caving and selling the company to the dominant ridesharing startup in China. Uber sold its Chinese business to Didi in August 2016, which involved an equity deal. In that sense, Uber may be acknowledging where it’s getting beaten, and instead looking to pick up stakes in those companies as a hedge on its ability to expand globally. Should Didi — or Grab, in the case of this report — end up being bombshell successes, Uber would experience its own significant windfall and…

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