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Grab in advanced talks to buy into Uber's Southeast Asia business - source

Reuters  |  SINGAPORE 

By Anshuman Daga and Aradhana AravindanSINGAPORE (Reuters) - Southeast Asia's biggest ride-hailing firm, Grab, is in advanced negotiations to buy parts of Uber Technologies Inc's business in the region, said a source with knowledge of the talks, in what would be Uber's second retreat from an Asian market.Ride-hailing companies have been offering heavy discounts and promotions in Southeast Asia, a region of about 640 million people, to attract both riders and drivers.To fund their expansion plans, both Grab and Uber have raised billions of dollars from global investors.A multi-billion dollar ...

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First Published: Thu, March 08 2018. 14:30 IST