CRI听力:Taxi App Giants in China Are Talking Merger

China's two largest mobile taxi-hailing applications backed by Internet giants Alibaba and Tencent are discussing a merger.

Kuaidi Dache and Didi Dache have been ramping up their marketing to attract more drivers and passengers.

The merger could end their escalating battle to win customers and create a dominant player.

The merger hasn't been completed and needs the support of their respective primary investors.

The shape of the deal remains fluid, but could see Alibaba and Tencent hold equal stakes in a combined company, which would be valued at around 6 billion US dollars based on their latest fundraising valuations ,if no additional capital is put in as part of the merger.

Insiders say a deal could be announced in the coming days unless the talks fall apart.