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Bike-sharing merger floated in China has riders in a huff

Investor eyes monopoly profits, but the industry may be headed for a crash

A glut of shared bicycles has led authorities in several big Chinese cities to ban additional purchases.

GUANGZHOU -- China's two leading bicycle-sharing companies may merge, creating a monopoly that consumers fear would lead to higher prices and deteriorating service.

The two startups, Mobike and Ofo, are the only big players in the industry, with a combined market share of 95%. In the year since bike sharing services were introduced in China, the market has both exploded and been virtually conquered by the two companies.

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