Monday, 26 March 2018

Uber sells South East Asia ride-share and food delivery businesses to rival Grab



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.




BBC      News.