Booking Holdings has provided more funding for Didi as part of a strategic partnership, as the latter looks to spin off its vehicle services arm in an IPO sized at up to $1.5bn.

Online travel agency Booking Holdings has invested $500m in China-based on-demand ride service Didi Chuxing as part of a strategic partnership agreement, as the latter company prepares to spin off its automotive services arm. Didi Chuxing operates a ride hailing platform with more than 550 million registered users that provides some 30 million rides per…

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