Mercedes, BMW Are Said to Weigh Sale of FreeNow Taxi App (1)

Mercedes-Benz Group AG and BMW AG are making a fresh attempt to sell their jointly owned taxi-hailing app FreeNow, according to people familiar with the matter.

The carmakers, who both own just under 50%, are working with Lazard Inc. to gauge interest from potential buyers, said the people, who asked not to be identified because discussions are private. The business could fetch as much as €500 million ($521 million), they said.

Passengers loading their luggage into a taxi operated by FreeNow in Berlin.

Photographer: Krisztian Bocsi/Bloomberg

Considerations are at an early stage and there’s no certainty they will lead to a transaction, the people said. Representatives for Mercedes and Lazard declined to comment. A ...