Uber’s China deal moves ride-hail giant a step closer to IPO

A taxi is reflected in a window at the office of taxi-hailing service Uber Inc in Hong Kong, China August 12, 2015. REUTERS/Tyrone Siu

Uber Technologies Inc. just took a big step toward being ready for an initial public offering: bailing out of its China business by selling the unit to ride-hailing competitor Didi Chuxing.

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