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Uber to invest aggressively in South Asia, won't let Softbank rule it: CEO

Uber is planing to sell it's Southeast Asia business to Grab, in return for a substantial stake in the company

Reuters  |  New Delhi 

Uber Technologies Inc’s chief executive pledged to continue investing aggressively in Southeast Asia even though the US ride hailing firm expects to lose money in the fast growing market due to costly battles with rivals such as Grab. SoftBank’s 15 percent stake purchase in Uber last month has opened up the possibility of combining Uber with other ride-hailing assets the Japanese group owns across Asia. SoftBank has stakes in Singapore-based Grab and India’s Ola. At the time of the investment, SoftBank said it wants Uber to focus on growing in the United ...

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First Published: Fri, February 23 2018. 07:00 IST