Tag Archives: uber

Weekly overview (August 1 – 5, 2016): BoE cuts rates, Uber is selling it’s business in China and more

Pictured: London

On Monday, it became known that Uber is selling it’s China business to the big local rival Didi Chuxing. In exchange Uber will receive a stake of almost 18% in Didi and become its biggest shareholder.

This move should end the nearly two-year price war between the companies, “letting” Uber to focus on other markets. The two companies combined are said to be worth $35 billion.

Read more