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Didi jumps 14% on the week amid report of Chinese government taking it over

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Budrul Chukrut | LightRocket | Getty Images

Shares of Didi are poised for double-digit gains this week amid a Bloomberg News report that Beijing is eyeing a plan to take the troubling ride-hailing giant under state control by acquiring a stake through government-run firms.

State-owned Beijing Tourism Group and other companies based in the city would invest in Didi under the early-stage proposal pending government approval, Bloomberg News reported, citing people familiar with the matter. The group could also take a so-called “golden share” with veto power and a board seat to gain control over Didi, the report said.

Didi, which went public on the New York Stock Exchange at the end of June,…



Source cnbc.com

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