Didi denies studies that town of Beijing is coordinating firms to put money into

Beijing-based Didi is going through cybersecurity scrutiny by Chinese authorities after its preliminary public providing in New York in June.

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Didi is managed by the administration workforce of co-founder Will Cheng and President Jean Liu.

Chinese large Didi Global Inc mentioned on Saturday that media studies that the Beijing metropolis authorities is coordinating firms to put money into it should not true. “Didi is currently actively and fully cooperating with the cybersecurity investigation, with foreign media reporting that the Beijing city government is coordinating companies to invest in it,” it mentioned on Weibo.

Bloomberg News reported Friday, citing unidentified individuals accustomed to the matter, that the Chinese capital was contemplating taking Didi beneath state management and had provided government-run corporations to put money into it.

SoftBank Group Corp., Uber Technologies Inc. and Alibaba are among the many firm’s buyers.

Bloomberg reported that beneath the preliminary provide, some Beijing-based firms, together with Shouki Group, a part of the state-owned Beijing Tourism Group, would purchase a stake in Didi.

Beijing-based Didi is going through cybersecurity scrutiny by Chinese authorities after its preliminary public providing in New York in June. Chinese authorities have stepped up their regulation of know-how corporations over the previous 12 months to enhance market competitors, information administration and their dealings with staff.

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Didi is managed by the administration workforce of co-founder Will Cheng and President Jean Liu. SoftBank Group Corp., Uber Technologies Inc. and Alibaba are among the many firm’s buyers.

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