Battle Over China’s Ride-hailing Market Ending as Didi Acquires Uber China Operations

By Jon LeSage Uber is handing over its China operations to Didi in an acquisition deal that would end the battle between the two ride-hailing companies to dominate the market.
Uber Technologies Inc. is selling its China operations to fierce rival Didi Chuxing, in a market that’s cost Uber $2 billion over the past two years in a price war for the growing market. Didi will invest $1 billion in Uber’s global company, people familiar with the matter said.
The huge losses in China have been one of the main sticking points holding up Uber’s potential initial public offering, according to people familiar with the

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