China's Meituan Dianping acquires bike-sharing firm Mobike

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

from Reuters: Technology News https://ift.tt/2q5ggTk