Uber reached a deal to sell its operations in China to Didi Chuxing, its arch-rival there, an acknowledgment that its costly campaign to conquer the ride-sharing market in China is over. Uber is taking a 17.7% stake in Didi as a consolation prize. Uber and Didi had spent billions in a fare war; this week Uber’s fares reportedly soared.
Arch-rival: 主要对手
Acknowledgement:承认
Costly:昂贵的
Conquer:征服
Ride-sharing:拼车
Consolation prize:安慰奖
Fare war:价格战
Soar:高企
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