Uber merges Chinese business with rival in £26bn deal

Ride-sharing app Uber has struck an agreement to merge its Chinese business with rival Didi Chuxing in a 35 billion US dollar (£26bn) deal.

As part of the tie-up, investors in loss-making Uber China will pick a 20% stake in Didi Chuxing, while the deal marks an end to a bitter, two-year rivalry in the country.