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Uber selling its Chinese business to rival Didi Chuxing

by David Brancaccio Aug 1, 2016
Didi Chuxing will acquire Uber's China-based operations in a nearly $35 billion deal.
A taxi passes by an Uber station outside a shopping mall in Beijing on Monday. Ride-sharing giant Uber is merging its China operations with local rival Didi Chuxing, reports say, ending a ferocious battle for market share in the world's second-largest economy.
STR/AFP/Getty Images