SHANGHAI: Chinese online services giant Meituan Dianping will acquire leading shared-bike company Mobike for more than US$3bil (RM11.59bil), multiple reports said on April 4, escalating a turf battle between some of the world’s biggest Internet companies.
The deal values Mobike’s equity at about US$2.7bil (RM10.43bil), and Meituan will also assume roughly US$700mil (RM2.70bil) in debt, Bloomberg News said, citing unnamed sources with knowledge of the deal.
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