- WSJ reports Uber (UBER) is near a deal with rival Grab (GRAB).
- Uber would turn over most of its operations in Southeast Asia for a 30% stake in Grab. The region’s ride-hailing market could grow over five times to $13.1B by 2025, according to Google and Temasek data.
- Sources say regulatory agencies could still block the deal and that the stake involved could prove lower.
- Precedent: Uber merged its Russian operations with local competitor Yandex for a 37% stake and sold its Chinese operations to Didi Chuxing for a 20% stake.
- Connecting thread: SoftBank has stakes in Grab, Didi, and Uber.
- Previously: Uber could sell unit to Grab for stake; Waymo planning ride-hailing service (Feb. 16)