Didi, Uber investors push hard for truce

Uber Technologies Inc. investors have a message for management: It’s time to wrap up the costly fight in China. Bloomberg reports several institutional investors are pushing the ride-hailing company to ink a partnership agreement with China’s market leader Didi Chuxing, according to people familiar with the matter, stemming the billions of dollars Uber is spending to expand in the region. Investors in Uber and Didi have discussed a potential deal, though the companies’ own executives would need to negotiate any truce, the people said, asking not to be identified as the discussions aren’t public. Uber and Didi are bleeding cash in China as they fight for dominance in the world’s most populous country, with Uber alone said to be spending $1bn annually.