Chinese ride sharing giant Didi Chuxing in talks to acquire bike sharing firm Ofo for around $2 billion.
Didi is also requesting setting up a new board with control transferred to Didi from Ofo’s founders.
Buying Ofo would allow Didi to provide more integrated and comprehensive transportation services to users from ride-hailing to bike sharing.
Didi has participated in Ofo’s past fundraising rounds from its Series C to E round, with the total capital investment of $350 million.