Rumours of Uber preparing to sell its Southeast Asian operations to Grab have resurfaced. CNBC is citing a source close to the matter who claims that Uber is in talks to surrender its business in this region in exchange for a stake in Grab.
Nothing in this story is particularly new, with a similar rumour appearing last month. There, it was said that new Uber investor Softbank wanted the company to focus more on its core markets in America and Europe.
A retreat from Southeast Asia would mimic the company’s experience in China. Where it was pushed out of the market and ultimately sold the business to rival Didi-Chuxing.
Softbank has a stake in all major ridesharing companies in Asia; with a hand in Didi-Chuxing, Grab, and Uber. It’s believed that the Japanese company wants to reduce competition across its many interests. Although, there’s no direct proof that this is the case.
With that in mind, Uber had previously claimed that it would be instead expanding its reach across the world, rubbishing claims that there would be any further exits from existing markets.
Neither Uber nor Grab has responded to the rumours.
[Source: CNBC]
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