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.
Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid. Pic: Reuters
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.
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