Grab to invest $2b in Indonesia
Ride-hailing giant Grab is investing $2 billion in Indonesia over the next five years, using funds from Japan’s SoftBank Group to boost its presence in Southeast Asia’s biggest economy, the firms said Monday.
The Singapore-based firm has seen its business grow rapidly since it bought US-based rival Uber’s regional ride-hailing and food business in March last year in exchange for a 27.5 percent stake in Grab.
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