Didi Global: Beijing retains control

[US:US23292E1082:0]Diddy Global[:US] Falls below $9 on Wall Street, down 1%, after opening sharply higher, while the Chinese giant VTC denied some rumors sparking a relaunch of its apps in China by the end of the year, relying on the upcoming shutdown of Beijing’s investigation into Company cyber security. Several sources told Reuters they expect the China Cyber ​​Regulatory Authority (CAC) to return its copy soon and end the sanctions in December, if there is any need to announce…Moreover, he has set aside a 10 billion yuan envelope to settle the possibility. Fine.

Didi said the information obtained by Reuters was “pure and baseless hearsay” and stressed “active and full cooperation with the investigation.”

The investigation began after the IPO of Wall Street

Remember that the regulator launched an investigation against Didi last July, Following its introduction to Wall Street. CBP then ordered the company to suspend registration of new clients on the grounds of “national security and the public interest.” Chinese authorities also ordered smartphone app stores to pull 25 mobile apps operated by the group…

Note that Beijing has been trying for several months to consolidate ownership and Therapy With large amounts of data more than Internet giants, Dr'[US:US01609W1027:0]Alibaba Group[:US] to me [US:US88032Q1094:0]Tencent Holdings[:US], collected daily from hundreds of millions of users. On the occasion of its IPO last summer, the leading Chinese company in VTC floated 316.8 million shares at $14 each, thus realizingThe second largest public offering in history A Chinese company listed on Wall Street after Alibaba in 2014.