SINGAPORE - American ride-hailing company Uber's sale of its South-east Asian business to arch rival Grab - as first reported by Bloomberg - should not come as a complete surprise.
In a world which has seen a proliferation of ride-hailing providers in the last five years, Uber needs to retreat to focus on markets where it enjoys dominance.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
