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Uncertainty Surrounding DiDi Increases After Chinese Government Officials Opposed Proposed Penalties

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© Reuters. The uncertainty surrounding DiDi(DIDI) increases after Chinese government officials oppose proposed penalties – Bloomberg

According to Bloomberg, China may delay Didi Global probe results (NYSE:), due to disagreements among government officials.

Central government officials are opposed to the set of sanctions proposed by the Cyberspace Administration of China, which is ultimately delaying DiDi’s plans to list in Hong Kong and delist in the United States.

The regulator expected to finish the probe this month and release the findings, but it’s uncertain that this process will take place soon due to the interfering central government officials.

According to Bloomberg, some investors were briefed about the latest developments with “at least one of them was unhappy.”

SoftBank, Fidelity and Blackrock are supporting the ride-sharing business (NYSE:).

The Didi stock price jumped 9% initially on the Bloomberg Report before it lost all its gains and is now 2.1% below the market.

By Senad Karaahmetovic

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