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Didi Chuxing buys control of Brazil's 99

Sources say transaction would value ride-hailing app at over US$1b

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Didi Chuxing's acquisition of 99 will potentially create a formidable rival to Uber in Latin America's largest economy.

Brasilia

CHINA'S ride-sharing company Didi Chuxing has agreed to acquire control of Brazil's 99, the companies said in a statement on Wednesday, potentially creating a formidable rival to Uber in Latin America's largest economy.

The companies did not...

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