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Why Uber Sold Its Southeast Asian Operations to Grab

Why Uber Sold Its Southeast Asian Operations to Grab

Ride-hailing giant Uber has been facing stiff global competition from local rivals. The company has already folded its businesses in China and Russia, leaving these markets to Didi Chuxina and Yandex (YNDX), respectively. Now, Uber has agreed to sell its operations in Southeast Asia to Grab, a local ride-hailing company.