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China Considering Unprecedented Penalty for Didi Global: Bloomberg
The logo of Chinese ride-hailing service Didi is seen on its headquarters in Beijing on July 5, 2021. Photo: Tingshu Wang/ Reuters.

(AF) Chinese regulators are considering serious, perhaps unprecedented, penalties for Didi Global, Bloomberg News reported.

Regulators view the ride-hailing giant’s decision to go public in the US last month, despite pushback from the Cyberspace Administration of China, as a challenge to the government, the report said, citing people who asked not to be named. Regulators are mulling punishments, including a fine, suspension of certain operations or the introduction of a state-owned investor, the report said. Another possibility is a forced delisting or withdrawal of Didi’s US shares, the report said, adding it was unclear how such an option would play out. Full story: Bloomberg News.

 

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