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China’s Baidu confirms investment in online taxi service Uber

Chinese Internet giant Baidu Inc agreed to buy a stake in Uber as the online car-hailing service seeks to gain ground on rivals with powerful backers in one of the world’s biggest transportation markets.

The companies didn’t disclose how big a stake Baidu is taking, nor how much it is paying for the investment in the taxi app operator.
The deal was announced jointly in Beijing by executives including Uber Chief Executive Travis Kalanick, making his first public appearance since a rape case involving a driver in India that resulted in New Delhi government ban on Uber.

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