No, Grab isn't buying Uber...yet

So says a statement from Uber anyway

After recent reports that Grab was in negotiations to acquire Uber's operations in Southeast Asia, Uber released a statement to refute the move.

Heavy competition

In it, Uber said it remained committed to Southeast Asia and would continue to invest in service improvements in the region.

Grab which is headquarted in Singapore and is Southeast Asia's highest valued tech company at $6 billion, claims to be the region's leading ride-sharing app and has expanded into other areas such as fintech.

Both Grab and Uber faced early challenges operating in the region - from pushbacks from taxi operators to government fines, but the dust appears to have since settled. It remains to be seen if one will eclipse the other - stay tuned for more updates.

[Source: Amanz]