- Associated Press - Wednesday, July 27, 2016

BERLIN (AP) - Daimler’s mytaxi and British rival Hailo are merging to form Europe’s biggest app-based cab ordering service.

Mytaxi operates in Germany, Austria, Italy, Poland, Portugal, Spain and Sweden. Hailo is active in the United Kingdom, Ireland and Spain.

The two companies said Tuesday that the merger will involve a share swap.

The new app, which will operate under the name mytaxi, will give users access to about 100,000 cabs in 53 cities across nine European countries.

German automaker Daimler has invested about €500 million ($550 million) in mytaxi over the past years and is expected to pump more money into the business in a bid to fend off competition from the likes of Uber.



Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide