LU STOUT: All right. Coming to you live from Hong Kong. It's a new week here. Welcome back. You're watching "News Stream." Uber is giving up on its Southeast Asian markets, selling out to Singapore- based rival Grab. Uber and Uber Eats will be available for the next two weeks. After that, you better get Grab instead. Sherisse Pham has more.</s>SHERISSE PHAM, CNN TECH AND BUSINESS REPORTER: It's a remarkable shift in strategy. Uber announcing it's throwing in the towel in Southeast Asia, selling it's business in the region to local rival Grab. The multibillion- dollar deal will leave Uber with a massive stake in Grab. It is just the latest international retreat for Uber. They sold off operations in China in 2016 and in Russia in 2017. Uber CEO says this latest deal will help Uber focus. Writing an e-mail to staffers, we take on too many battles across too many friends and with too many competitors. Selling to Grab put this in a position to compete with real focus in core markets. But less than a year ago, Southeast Asia was a core market. An Uber executive telling me the company was expanding in Southeast Asia and had momentum there. But that was before SoftBank bought a big stake in Uber. The Japanese company pushing Uber to focus on the U.S., Europe, Latin America, and Australia ahead of an expected IPO in 2019. Uber says it has no plans to quit any other major markets, but analysts are watching India, another country where Uber is spending a lot of money fighting off off local competition. Sherisse Pham, CNN, Hong Kong.</s>LU STOUT: Sherisse, thank you for that. And that is it for "News Stream." I'm Kristie Lu Stout, but don't go anywhere, "World Sport" with Amanda Davies is next.
Uber Sells Southeast Asia Business To Rival Grab.