Didi Chuxing confirms buying Uber's China business
Taxi-hailing service Didi Chuxing on Monday confirmed that it is buying rival Uber's China business. Uber will get a 5.89% stake and its existing Chinese investors will receive 2.3% of the newly merged business. While Uber will maintain its branding, app and business operations, Didi will be responsible for the managerial and technological experience of the two companies in China.