Beijing city denies advising companies to invest in Didi

September 6, 2021
MediaIntel.Asia

BEIJING, Sep 6 (Reuters) – Reports that the Beijing city government is advising Chinese state-owned companies to invest in beleaguered passenger transport giant Didi Global Inc are false, the local government told Reuters in a statement sent by fax. Citing unidentified sources, Bloomberg News reported Friday that China’s capital is considering taking Didi under state control and has proposed that government-run companies invest in the firm. Didi had issued his own denial of the report on Saturday. The Beijing-based company completed a New York IPO in June, but became embroiled in China’s regulatory crackdown on tech companies last year to improve market competition, data handling and business. I treat employees. Didi is controlled by the management team of co-founder Will Cheng and President Jean Liu. SoftBank Group Corp, Uber Technologies Inc and Alibaba are among the company’s investors. (Reporting by Yilei Sun, Colin Qian and Brenda Goh; edited in Spanish by Carlos Serrano)

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