Beijing city looking to take Didi under state control -Bloomberg News


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The city of Beijing is considering taking Chinese ride-hailing firm Didi Global, which is facing a cybersecurity investigation, under state control, Bloomberg News reported.

The Beijing city government has proposed making an investment in Didi, Bloomberg reported on Friday, citing unidentified people familiar with the matter.

Under the preliminary proposal, some Beijing-based companies would acquire a stake in Didi, said the report, adding that it remains unclear how large a stake the Beijing city government is considering taking.

Beijing-based Didi did not immediately respond to a request for comment.

Didi is facing a cybersecurity investigation by Chinese authorities following its New York initial public offering in June. (Reporting by Chavi Mehta in Bengaluru; Editing by Saumyadeb Chakrabarty and Alexander Smith)