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Southeast Asia's Grab in talks to buy into Uber's regional 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 firms have raised billions of dollars to help compete in Southeast Asia where they have been forced into losses partly due to hefty incentives to drivers and discounts to riders.Grab has a dominant position in several markets in the region of about 640 million people, while Uber ...

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First Published: Fri, March 09 2018. 02:19 IST
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