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Didi Rose 14% Amid Reports Beijing Seeks State Control

September 4, 2021
Source: financialbuzz.com financialbuzz.com
News Snapshot:
Didi (NYSE: DIDI) , a chinese ride hailing company, shot up 14% Thursday amid a report that Beijing had plans to acquire a stake in the company and take it under state control. Amid the proposal, Shouqi Group, among other firms in the capital, would purchase a stake in the company. It is unknown how big of a stake the city is planning to purchase or whether the potential deal will be approved by senior government officials. Didi is currently led by its management team of co-founder Cheng Wei and President Jean Liu, which hold 58% voting power after its...
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