Didi Chuxing, the dominant ride-hailing service in China, said it will acquire Uber Technologies Inc.’s operations in the country, ending a battle that cost the two companies billions as they competed for customers and drivers.
Didi will buy Uber’s brand, business and data in the country, the Chinese company said in a statement.
Uber has been spending at least $1 billion a year to gain ground in China, while Didi offered its own subsidies to drivers and riders to build its business.
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