Why Uber gave up confrontation with Grab and Gojek in Indonesia

$Grab Holdings(GRAB.US)$
Dana Khosrowshahi, CEO of $Uber Technologies(UBER.US)$, said that Uber's withdrawal from the Southeast Asian market was due to the limitations of Uber's dominant position in online transportation in many countries around the world.

The fierce competition in Southeast Asia is one of the reasons why $Softbank Holdings(BK2558.US)$ is accelerating the transaction between Uber and Grab. This Japanese investment company is Grab's largest investor and Uber's major shareholder.

It is worth noting that Uber also sold its business in China to $DiDi Global Inc(DIDIY.US)$ in 2016.

Dara said that by transferring Uber's business in Southeast Asia, the California based company can focus on some key markets they are targeting. Dara is also optimistic that Uber's shareholding in the joint business of Grab, Didi Chuxing and $Yandex(YNDX.US)$ will continue to grow.

In addition, Uber's age competition from Southeast Asia is expected to balance the company's balance sheet.