Didi Buys 99 Taxis, Igniting Fight With Uber in Latin America

Didi Chuxing is buying Brazilian ride-hailing company 99 Taxis, placing Didi in direct competition with Uber Technologies Inc. in one of the U.S. company’s busiest international markets.

Didi, which led a $100 million investment in 99 Taxis a year ago, announced the acquisition on Wednesday. “Globalization is a top strategic priority for DiDi," Cheng Wei, the Chinese ride-hailing company’s chief executive officer, said in a statement.