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Business deals

Uber announces sale of Southeast Asia business to Grab

US ride-hailing group to hold 27.5% stake and send exec to Singapore rival

Uber and Grab drivers in Jakarta (Photo by Takaki Kashiwabara)

SINGAPORE/TOKYO -- U.S. ride-hailing company Uber Technologies has decided to sell its Southeast Asian operations to Grab, in effect of ceding the region to its already-dominant rival after a long and bruising fight.

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