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China Asks Didi to Delist From U.S. On Security Fears

  • Regulators asked Didi brass to devise a plan to go private
  • Forced delisting will be severest action against China Tech
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WATCH: China has asked Didi to come up with a plan to delist from U.S. exchanges, according to people familiar with the matter. Edwin Chan reports.Source: Bloomberg
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Chinese regulators have asked Didi Global Inc.’s top executives to devise a plan to delist from U.S. bourses, people familiar with the matter said, an unprecedented request that’s likely to revive fears about Beijing’s intentions for its giant tech industry.

The country’s tech watchdog wants management to take the company off the New York Stock Exchange because of concerns about leakage of sensitive data, the people said, asking not to be identified discussing a sensitive matter. The Cyberspace Administration of China, the agency responsible for data security in the country, has directed Didi to work out precise details, subject to government approval, they said.