City of Beijing Said to Seek Taking Didi Under State Control

Beijing’s municipal government has proposed an investment in Didi Global Inc. that would give state-run firms control of the world’s largest ride-hailing company, according to people familiar with the matter.

Under the preliminary proposal, Shouqi Group -- part of the influential Beijing Tourism Group -- and other firms based in the capital would acquire a stake in Didi, the people said, asking not to be identified discussing private information. Scenarios under consideration include the consortium taking a so-called “golden share” with veto power and a board seat, they added.