Uber is said to be in talks to sell its Southeast Asian business to local player Grab in a deal that will give it a sizeable stake in the latter.
On-demand ride provider Uber has entered talks to acquire a “sizeable” stake in Singapore-based counterpart Grab in return for its Southeast Asian business, CNBC reported on Friday.
Although the companies are in negotiations, no deal has yet been reached and the timing of any such agreement is unclear, two sources with knowledge of the matter told CNBC.
Formerly known as GrabTaxi, Grab runs a ride hailing platform that operates in approximately 170 cities spanning eight Southeast Asian markets.
The company…
