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Uber Sells Southeast Asia Business to Grab After Costly Battle

Uber Technologies has agreed to sell its Southeast Asian business to bigger regional rival Grab, the ride-hailing firms said on Monday, marking the U.S. company's second retreat from an Asian market. The industry's first big consolidation in Southeast Asia, home to about 640 million people, puts pressure on Indonesia's Go-Jek, which is backed by Alphabet's Google and China's Tencent Holdings Ltd. A shake-up in Asia's fiercely competitive ride-hailing industry...

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