Daimler’s mytaxi to merge with Hailo

Frankfurt: Daimler’s mytaxi said it will will merge with British rival Hailo in an all-share deal, creating Europe’s largest smartphone-based taxi-hailing business. Unlike US-based ride hailing start-up Uber, which established itself to compete against taxi companies, the new company will operate using taxi firms. It is the latest push by traditional carmakers to enter the taxi ride hailing services market dominated by Uber and other technology companies. The companies declined to disclose financial terms.