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Uber to sell Southeast operations to Grab, get stake in combined business: source

SINGAPORE: Ride-hailing firm Uber has agreed to sell its Southeast Asian business to the region’s bigger rival Grab, a source with direct knowledge of the matter said on Sunday, in what would be the US company’s second retreat from Asia. As part of the transaction, company would get a stake of as much as 30 percent in the combined business, the source said. He did not want to be identified as the deal is not public yet. Read More: US police release video of fatal collision with uber self-driving…