Grab in advanced talks to acquire parts of Uber’s Southeast Asian business

The move could potentially see Uber pull back from its global expansion drive.

As per a source with knowledge of the talks, Grab, Southeast Asia’s biggest ride-hailing firm, is in advanced negotiations with Uber Technologies to acquire some parts of its business in the region and has offered a stake in its own company.

Subject to the successful completion of this negotiation, the move could mark Uber pull back from its move to expand its business globally.

In January 2018, SoftBank Group Corp emerged as Uber’s largest shareholder.

While Uber did not immediately respond to requests for comments, Grab declined to comment.

Last month, during his visit to India, Uber’s CEO, Dara Khosrowshahi, had pledged to continue investing aggressively in the Southeast Asia ride services market.

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