That report at least, Bloomberg and Recode according to insiders. The sale would later in the day will be announced officially.
As part of the deal Uber is the largest shareholder of Didi Chuxing. Didi Chuxing also make an investment of $ 1 billion in Uber, at a valuation of $ 68 billion.
The two companies have for years engaged in a long and costly battle for market dominance. “Uber and Didi Chuxing invest billions of dollars in China, and twisted both companies have no profits yet. The only way for Chinese drivers, passengers and cities to serve is good to build a profitable business,” says Uber CEO Travis Kala Nick in an even publish blog.
Uber will provisionally still use its own app in China. The combined company is valued at $ 35 billion, said the sources.
The deal follows a week of the announcement by the Chinese government to legalize taxi service from November. The services are still operating in a legal gray area
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