Uber investors want the costly war between the Chinese division and its rival Didi Kuaidi to reach a “truce”.
In a report from Bloomberg, the ride-hailing giant’s investors want the game of chicken between the two companies to end quickly, whether that means a sale of Uber China to its rival or a profit-sharing partnership.
The ongoing rivalry between Uber and Didi Kuaidi has intensified, as the companies both lower prices, up their incentives to enlist drivers, and fight for fundraising.
Didi Kuaidi is operating in over 400 Chinese cities whereas Uber has set a goal of hitting 100 by the end of the year. Didi also recently received a $1 billion investment from Apple, despite the fact that Kalanick and Apple CEO Tim Cook are reportedly friends.
Now Uber’s investors appear to be getting uneasy about the costly battle, according to Bloomberg, and are starting to take steps to end the hostilities. Investors between the two companies have discussed a deal, the report said.
Of course, it’s up to the companies themselves to forge any settlement and company-to-company deal talks are reportedly not in the works for now.