#uber grab

It's finally near -- Uber has agreed to sell its South East Asian operations to Grab according to sources familiar to the negotiations. The combined operation will be under Grab but Uber will still have a minority share, around 25 to 30%, according to reports. For the Philippines, Grab and Uber are the 2 dominant players in the ride-sharing and ride-hailing business. The merger of operations between the two means we're looking at Grab as the lone dominant service. For more riders, this may not really impact since many drivers are already registered with both Grab and Uber. Uber is planning to sell its Southeast Asia division to its competitor, Grab.   Grab claims to have 95 percent market share in Southeast Asia and has announced its plans to raise more than $2.5 billion from SoftBank and other investors in 2017. This move is alike to Uber's strategy in China wherein the company sold its ride-hailing operation to Didi for 20 percent ownership, as well as in Russia where the company combined its local business with Yandex's ride-hailing business for a 37 percent share. Read more in our articles including "Uber agrees to sell to Grab in South East Asia, Philippines" and "Uber to sell Southeast Asia units to Grab".