Alibaba to Uber’s Grab Shares: What Is the Plan?

By Editorial Team 15/09/2020
Unicorn
Summary

Alibaba Group Holding Ltd is currently in talks to inject a US$ 3 billion worth of investment into one of the Southeast Asian ride-hailing giants, Grab Holdings Inc. With the plan’s knowledge, a Bloomberg source revealed that Alibaba would be the sole investor in the upcoming funding round.

Alibaba will spend part of the funds to acquire Grab’s shares held by Uber Technologies Inc, the source state unveiled. For the record, when Grab agreed to acquire Uber’s business in Southeast Asia in 2018, Uber owned around 23.2 percent of Grab’s shares.

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