Meituan to Buy Big Stake in Mobike

Deliverymen for Meituan's food takeout service ride past a heap of shared bikes from Mobike, Ofo and other companies in Beijing on Dec. 29. Photo: Wu Gang/Caixin

*Meituan expressed interest in investing in Mobike as early as late 2017, but the deal was put on hold due to objections from a major investor

*The investment follows a proposed merger between Mobike and its archrival Ofo that fell apart in late November

China’s largest online booking platform, Meituan Dianping, has agreed to acquire a big stake in shared-bike startup Mobike, Caixin has learned.

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