Uber to sell Southeast Asian business to rival Grab: Report
US-based ride-hailing startup Uber is preparing to sell its Southeast Asian business to rival Grab in exchange for a stake in the Singapore-based ride-sharing company, according to reports. The deal is reportedly part of a strategy to help Uber reduce costs ahead of a planned IPO. Earlier, Uber also sold its China business to rival Didi Chuxing for 20% ownership.