China has asked ride-hailing giant Didi to delist from the US due to data security fears, report says
Chinese regulators have asked top executives of ride-hailing giant Didi Global Inc to devise a plan to delist from US bourses on data security fears, Bloomberg News reported.
Didi and the Cyberspace Administration of China did not respond to Reuters requests for a comment. Shares in SoftBank Group Corp, which has a minority stake in Didi, fell more than 5%. If the privatization proceeds, shareholders would likely be offered at least the $14 per share IPO price, since a lower offer so soon after the June initial public offering could prompt lawsuits or shareholder resistance, the report said, citing sources.
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