Market Chatter: Uber Technologies Expands in Hong Kong With Reported FlyTaxi Acquisition

MT Newswires Live05-01 19:16

Uber Technologies (UBER) has agreed to acquire Hong Kong-based FlyTaxi as part of its expansion in the city, Bloomberg reported Friday, citing Sing Tao Daily's report of a company announcement.

Financial terms of the deal were not disclosed.

Uber seeks to strengthen its position in Hong Kong by integrating FlyTaxi's local footprint with its own technology and operational expertise, the report added.

Uber Technologies didn't immediately respond to a request for comment from MT Newswires.

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