A monumental deal could come to fruition reshaping China’s ride-hailing market with the proposed merger of its two top competing services Uber, and Didi Chuxing.
The US company’s China operation is reportedly set to seal a $35bn merger with market leader Didi Chuxing.
Quoting “a source familiar with the matter,” Reuters has reported that the valuation comes from Didi’s $28bn and Uber China’s supposed $7bn. Uber China will have a 20 per cent stake in the new company claimed the source in return for Didi investing a further $1bn in Uber US to boost it globally.
Back in 2015, China’s leading Read full story ›
Source: The Drum
Industry News