Deals
Mercedes, BMW Are Said to Weigh Sale of FreeNow Taxi App
Passengers load luggage into a taxi, operated by FreeNow, in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Mercedes-Benz Group AG and BMW AG are making a fresh attempt to sell their jointly owned taxi-hailing app FreeNow, according to people familiar with the matter.
The carmakers, who both own just under 50%, are working with Lazard Inc. to gauge interest from potential buyers, said the people, who asked not to be identified because discussions are private. The business could fetch as much as €500 million ($521 million), they said.