Uber to combine China business with Didi Chuxing in $35 billion merger?

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

Uber to combine China business with Didi Chuxing in $35 billion merger?

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 percent stake in the combined company, Bloomberg said, citing sources.

Uber and Didi could not be immediately reached for comment.

Written By: Reuters
Updated: Mon, Aug 01, 2016
10:27 AM IST
Delhi, Reuters

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