Uber sells Chinese operations to Didi Chuxing
3 months ago Comments Off on Uber sells Chinese operations to Didi Chuxing
Uber has agreed to sell its Chinese business to rival Didi Chuxing. The taxi-booking app will retain separate branding in the country, with Uber also taking a 5.9 per cent stake in the combined company. Didi Chuxing – which is backed by internet giants Tencent and Alibaba – dominates the taxi-booking sector in China with nearly 90 per cent of the market.
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