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China taxi apps Didi Dache and Kuaidi Dache announce tie-up

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Didi Dache and Kuaidi Dache are backed up by internet giants Tencent Holdings and Alibaba Group Holding, respectively.

[BEIJING] Didi Dache and Kuaidi Dache, two of China's leading taxi-hailing apps, said Saturday they would merge through a share-swapping deal.

Financial terms were not disclosed.

The two companies, backed by Internet giants Tencent Holdings and Alibaba Group Holding, respectively, allow users to hail taxis on their smartphones.

REUTERS

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