China's Didi Chuxing to acquire Uber's Chinese operations: WSJ

Bloomberg pegs the valuation of the combined entity at US$35 billion

PUBLISHED : Monday, 01 August, 2016, 12:29pm
UPDATED : Monday, 01 August, 2016, 1:28pm

Chinese ride-hailing app Didi Chuxing will acquire rival Uber's China operations, The Wall Street Journal reported Monday, citing people familiar with the matter.

Didi, China's largest ride-hailing app, has been locked in a fierce battle with Uber for dominance in the world's second-largest economy. It counts technology giant Apple as a shareholder.

Uber and Didi Chuxing's Chinese businesses did not immediately respond to CNBC's requests for comment.

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