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Grab is rumored to be buying part of Uber’s Southeast Asia business

Grab is rumored to be buying part of Uber’s Southeast Asia business
[Photo: Jakob Owens/Unsplash]

A source told Reuters that Grab is in advanced talks to acquire part of Uber’s Southeast Asia business. If it goes through, the deal is expected to mirror the one Uber struck with China’s Didi Chuxing in 2016. In that deal, Didi Chuxing bought out Uber’s China business in return for giving Uber a stake in Didi Chuxing. In this newest rumored deal, Grab will buy out part of Uber’s Southeast Asia business and give Uber a stake in the company in return. Southeast Asia is one of the hottest marketplaces for ride-hailing companies due to the fact that the region has 640 million people.