The Wall Street Journal: Didi Chuxing reaches deal to buy Uber’s China operations

BEIJING—China’s homegrown ride-hailing champion Didi Chuxing Technology Co. has reached a deal to acquire Uber Technologies Inc.’s China operations, people familiar with the deal said, marking an end to their bruising competition for Chinese passengers.

A deal could be announced as early as Monday, the people said.

As part of a share-swap deal, Uber will become the largest shareholder in Didi Chuxing after combining its UberChina unit with the Chinese ride-hailing company, according to one of the people.

Didi raised $7.3 billion in its latest fundraising round in June, which included a $1 billion investment from Apple Inc. and valuing the Chinese ride-hailing startup at $28 billion.

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