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Ride-hailing firm Didi to buy Uber's China business: official microblog

The logo of Didi Chuxing is seen at its headquarters building in Beijing, China, May 18, 2016. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) - Didi Chuxing will buy Uber’s China business, the Chinese ride-hailing company said on its official microblog on Monday.

Uber will continue to operate independently in China, and Uber’s global business will receive a 5.89 percent stake in Didi as part of the deal, the company said.

Reporting by Beijing monitoring team and Jake Spring; Editing by Ian Geoghegan

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