Beijing city government denies media report of Didi takeover

Bloomberg News had reported that the municipal government proposed that Shouqi Group and another firm based in Beijing would acquire a stake in Didi. - Reuters

BEIJING (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.