Banks miss out as Chinese firms do DIY deal advice

HONG KONG (Reuters) - When ride-hailing firm Didi Chuxing agreed to buy Uber Technologies Inc's China unit this month, creating a $35 billion business, both firms used in-house advisory teams, meaning the investment banks that normally advise on these deals missed out on an estimated $60 million in fees.

from Reuters: Technology News http://ift.tt/2btXpJy