San Francisco — Alphabet has held conversations with Lyft about a potential investment in recent weeks, signalling strong support for Uber Technologies’s main US competitor, according to people familiar with the matter. An investment of about $1bn in Lyft may come from Google or CapitalG, Alphabet’s private equity arm, said some of the people, who asked not to be identified because the discussions are private. A deal may not come together. Alphabet and Lyft declined to comment. Alphabet is also an Uber shareholder through its GV venture capital arm, but Waymo, a unit of Alphabet, is suing Uber over self-driving car technology. As the relationship has deteriorated, Waymo signed a partnership with Lyft to work together on testing autonomous vehicles. While Lyft has recently focused on controlling spending, the cash would allow the San Francisco-based startup to pursue more aggressive growth with subsidies for drivers, discounts for riders and marketing. Lyft kicked off a major televis...

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