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  • Yet another deal to tell you about.

  • This one is cross-border.

  • DiDi, the dominant ride-hailing service in China, will acquire rival Uber's operations in that country.

  • The deal ends a fierce battle between the two companies

  • in the market that was one of Uber's largest by the total number of rides.

  • Eunice Yoon reports tonight from Beijing.

  • DiDi is acquiring all of Uber's assets in China

  • that includes the operations, the brand as well as the data.

  • Investors in Uber will get a twenty percent stake in the combined company

  • which will be valued at 35 billion dollars.

  • In addition, DiDi will invest 1 billion dollars in Uber.

  • The deal will finally end a fierce price war between the two companies in China.

  • Both companies have been spending billions in subsidies to attract drivers and passengers.

  • Uber has been losing 1 billion dollars a year here.

  • Uber CEO posted his reason for the decision on Facebook

  • saying serving China cities is only possible with profitability.

  • At the same time, it's been fighting an uphill battle.

  • DiDi raised 7 billion dollars in part from Apple.

  • It's also backed by China's sovereign wealth fund.

  • And DiDi said that it now is the only company with investors from China's three major tech titans,

  • Alibaba, Tencent and now Baidu.

  • Uber's case is also pointing to wider concern in the tech community

  • that the business environment for foreign companies is just getting tougher.

  • For nightly business report, I am Eunice Yoon in Beijing.

Yet another deal to tell you about.

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A2 初級

Uberの中国事業売却 (Uber’s China business sale)

  • 54 2
    Katharina Yang に公開 2021 年 01 月 14 日
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