Uber Technologies Inc. said Monday it would relinquish its battle for Southeast Asia’s riders, selling its local operations in exchange for a minority stake in homegrown champion Grab Inc. In exchange for its operations in Southeast Asia, Uber is gaining a 27.5% stake in Singapore-based Grab, which has more monthly active users across much of the region than Uber, according to app analytics firm App Annie.

Source: Wall Street Journal March 26, 2018 02:05 UTC