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Hail the winner

1 August 2016 By Robyn Mak

The U.S. ride-hailing app is handing Uber China to larger local rival Didi Chuxing. In exchange, Uber gets 20 pct of an enlarged $35 bln group. It’s a humiliating reversal after a high-profile battle. The combined group can cut back on subsidies and focus on turning a profit.

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