Baidu expected to take stake in Uber

Baidu Inc, the owner of China's biggest Internet search engine, is buying a minority stake in Uber Technologies Inc, the taxi-booking company which is expanding into China, according to a person familiar with the matter.

Uber will receive cash and non-cash assets, including access to Baidu's online resources, the source said, for an investment likely to be worth as much as $600 million, China National Radio reported earlier.

The investment will give the search giant a slice of the market in China that has been dominated by startups backed by Alibaba Group Holding Ltd and Tencent Holdings Ltd, the nation's biggest Internet companies.