A taxi driver uses the Didi Chuxing app while driving along a street in Guilin, in China's southern Guangxi region on May 13, 2016. Apple has invested 1 billion USD in Chinese ride hailing app Didi Chuxing, the Beijing company said on May 13, as it vies with bitter US-based rival Uber for market share in China. / AFP PHOTO / GREG BAKER
BEIJING: Ride-sharing giant Uber is to give up its ferocious battle for market share in China by merging its operations with local rival Didi Chuxing, reports said on Aug 1.
The deal will give Uber a 20% share in the combined firm, which will be valued at US$35bil (RM140.93bil), Bloomberg News reported.
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