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Beijing City Government Denies Media Report of Didi Takeover

  • The government’s press office said reported proposal untrue
  • Chinese ride-sharing giant Didi is under data security probe
China Blocks Didi From App Stores Days After Mega U.S. IPO
Photographer: Yan Cong/Bloomberg

The Beijing municipal government denied a report it had proposed an investment in Didi Global Inc. that could put the Chinese ride-sharing giant under state control and keep its assets within the Chinese capital.  

“After looking into the matter with related parties, the matter of ‘Beijing state-backed firms investing in Didi’ and ‘Shouqi Group teaming up with other state-backed firms to invest in Didi’ is untrue,” the municipal government’s press office said in a statement e-mailed to Bloomberg News, without further elaboration. A representative from Didi told Bloomberg on Saturday that the firm was working with regulators on a cybersecurity review and reports about a Beijing-led investment are untrue.