uber china Archive

Didi Chuxing confirms it is buying Uber’s business in China

China’s Didi Chuxing has confirmed that it has agreed to buy Uber China in a deal that had been heavily speculated earlier today. Didi said in an announcement that Uber will be given a 5.89 percent stake in the newly merged entity, with preferential equity that is equal to a 17.7 percent economic interest in Didi Chuxing. It explained that existing Uber China investors, which …

Uber China will reportedly merge with archrival Didi Chuxing

Huge news for China’s ride-sharing industry, it appears that Didi Chuxing will gobble up rival Uber China in a merger deal that will value the combined entity in China at $35 billion. The rumor has being doing the rounds for around a month now, with both sides denying but it looks like a deal is happening. Both Bloomberg and the Wall Street Journal cited sources claiming that a …