Uber To Merge China Business With Didi Chuxing In $35 Billion Deal: Report

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Uber Technologies Inc would merge its China business with rival Didi Chuxing

Ride-hailing service Uber Technologies Inc would merge its China business with rival Didi Chuxing, valuing the combined company at $35 billion, Bloomberg reported, citing people familiar with the matter.

Investors in Uber China, which is owned by San Francisco-based Uber, Baidu Inc and others, would receive a 20 per cent stake in the combined company, Bloomberg said, citing sources.

Uber and Didi could not be immediately reached for comment.

 

[Source   NDTV]