A source recently revealed that Southeast Asian ride-hailing firm Grab is already in advanced negotiations to buy rival Uber’s market share in the region.

Xiaofeng Wang, an analyst at consultancy firm Forrester says that Uber may be planning to focus on markets where it is already doing well, such as the US and Europe. Meanwhile, Grab holds a bigger part of the market in Southeast Asia and understands it better as well.

Uber is expected to strike a deal with Grab where they will be getting a stake in the latter, which is similar to the deal Uber made in China in 2016 where Didi Chuxing bought out Uber’s China business in exchange for a stake.   

Source: Reuters

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