The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018.
REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsSEOUL, Nov 15 (Reuters) - Kakao Mobility, a South Korean taxi-hailing service provider, plans to acquire European taxi platform FreeNow, Maeil Business Newspaper reported on Wednesday.
Kakao Mobility will make a proposal as early as next week to acquire about an 80% stake in the Germany-based mobility service provider, the newspaper reported, citing an unidentified source.
Responding to a Reuters request for comment, Kakao Mobility said it did not have anything to say on the matter.
Kakao Mobility, a subsidiary of South Korean tech giant Kakao (035720.KS), has a market share of more than 90% of the country's taxi-hailing market.
Persons:
Thomas White, Jihoon Lee, Mark Potter
Organizations:
REUTERS, Rights, Kakao, South, Maeil Business, Kakao Mobility, Thomson
Locations:
Rights SEOUL, South Korean, Germany