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.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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