Didi sold its stake in the taxi service Bolt

Didi sold its stake in the taxi service Bolt
Source: https://voditelvtaxi.ru/didi-taxi-v-rossii-chego-zhdat-quot-yandex-taxi-quot-i-quot-sitimobil-quot-ot-novogo-kitayskogo-taxi/ 03.09.2021 101

Didi is a Chinese platform founded in 2012 that operates in 16 countries around the world. It provides a taxi search service through the application, bike and car rental, bus transportation, and food delivery. The Didi app has 493 million registered users and several million drivers. The company's income for 2020 amounted to $ 21.6 billion, profit - $ 1 billion. The capitalization of the company in 2021 was $ 68 billion.

Chinese taxi service Didi sold its stake in Bolt amid plans to enter the European market and pressure from Chinese regulators.

According to Telegraph, Chinese online taxi service Didi sold its stake in the European service Bolt for 500 million euros amid growing pressure from the PRC regulators.

Didi previously obtained licenses in several UK cities as part of plans to launch in Europe in the coming months but has suspended those plans for at least a year due to concerns over user data handling regulations.

Previously, the online taxi booking service Didi Global Inc. raised more than $ 4 billion in an IPO on the New York Stock Exchange. On the eve of the IPO, the service faced an antitrust investigation by the Chinese authorities, and just a couple of days after going public, the Chinese regulator demanded that the DiDi service be removed from local app stores. The actions of Chinese regulators in relation to Didi may be a continuation of the policy of curbing China's digital 'platform' companies. Furthermore, Chinese authorities are now passing laws requiring some high-tech Chinese companies to list on the domestic market and have intensified due diligence on tech companies.

Source: The Telegraph

Didi  regulation  China 

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