A PYMNTS Company

South East Asia: Uber is leaving, selling operations there to rival Grab

By  |  March 26, 2018

Uber Technologies has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival, reported Reuters on Monday, March 26.

Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery service UberEats. Grab said the Uber acquisition accelerates its path to profitability in its core transport business, as it would become the most cost-efficient Southeast Asian platform.

On its Singapore website, Grab said passengers could expect better service with more drivers and transport options available on one app and that fares would not change. For drivers, it said the benefits and incentives structure remained the same.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.