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Uber to combine China business with Didi Chuxing in $35 billion merger: Bloomberg
A mascot of Didi Chuxing is seen at the company's headquarters in Beijing, China, May 18, 2016.
Reuters/Kim Kyung-Hoon
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 (BIDU.O) 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.
(Reporting by Rama Venkat Raman in Bengaluru)
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