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Explained: How China plans to take DiDi under state control

September 4, 2021
Source: cnbctv18.com cnbctv18.com
News Snapshot:
China may soon be taking the driver's seat at the popular ride-sharing app DiDi. The Beijing municipal government has proposed a large investment to get a stake in DiDi Global Inc, reported Bloomberg. The investment will see the Chinese authorities firmly in control of DiDi after purchasing stakes via a consortium controlled by Beijing . . What is the investment? Reports suggest that Shouqi Group, along with several other government-controlled companies in the Chinese capital will be investing in DiDi Global through a consortium vehicle. The resulting arrangement may see the consortium ending up with a ‘golden share,’ one that...
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