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Cab hailing firm Uber has decided to sell its ride and food delivery businesses in Southeast Asia to Singapore-based rival, Grab.
As per a deal, Grab is taking over the operations of Uber in the region, with the US-based company to receive a 27.5 per cent stake in the business in return. This will however not impact Uber's operations in India, where it is locked in an intense competition with local rival Ola, sources close to the development said.