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Uber is preparing to sell Southeast Asia unit to Grab in exchange for stake in company: Sources
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  February 17, 2018
CW8888: Look like the fight in Singapore is between Grab and Comfortdelgro. Did Comfortdelgro got screwed by Uber? Uber is preparing to sell its Southeast Asia business to Singapore's Grab in exchange for a sizable stake in the company, according to two sources with knowledge of the matter. No deal has been reached yet, and the timing of any such deal is uncertain. Grab provides private car, motorbike, taxi and carpooling services in more than 100 cities across Southeast Asia. The company claimed to have 95 percent market share in taxi ride-hailing when it announced plans to raise more than $2.5 billion from SoftBank and other investors in 2017. The move would mimic Uber's strategy in China, where the company sold its ride-hailing operation to Didi for 20 percent ownership, and Russia, where the company merged its local business with Yandex's ......
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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