Didi, Uber to merge China operations

San Francisco

CHINA'S dominant ride-hailing firm Didi Chuxing will merge with Uber's business in China in a US$35 billion deal that will end bruising competition between the two firms, according to a source familiar with the matter.

The deal between the pair - which have been spending heavily to gain market share and battling fiercely for passengers - is nearly complete and could be announced as early as Monday, said the source, who declined to be identified because the deal is not yet public.