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Baidu Said to Buy Stake in Uber, Boosting App in China

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Baidu Inc. is buying a minority stake in Uber Technologies Inc., giving the car-booking company a boost as it expands in China, according to a person familiar with the matter.

Uber will receive cash and non-cash assets, including Baidu’s online resources as owner of China’s biggest Internet search engine, the person said, asking not to be identified as the matter is private. The investment may be worth as much as $600 million, China National Radio reported earlier.