China’s Meituan Dianping acquires bike-sharing firm Mobike

April 04, 2018 3:08 PM

BEIJING (REUTERS) – Meituan Dianping, China’s largest provider of on-demand online services, is buying bike-sharing firm Mobike for US$2.7 billion (S$3.5 billion) excluding debt, in a deal that will intensify the rivalry of their common backer Tencent Holdings with Alibaba Group.

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