China asks Didi to move away from the US for security reasons

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""Tech News"" – Google News
According to Bloomberg News, Chinese regulators have asked top executives of ride-hailing giant Didi Global Inc to come up with a plan to cut US exchanges over security fears.

China’s tech watchdog wants management to remove the company from the New York Stock Exchange over concerns about the loss of sensitive data, the report said, citing people familiar with the matter.

Didi did not respond to a Reuters request for comment.

Proposals under consideration include direct privatization or an IPO in Hong Kong followed by delisting from the United States, the news report said.

If privatization moves forward, the proposal will likely be at least $ 14 as privatization moves forward, as a lower bid so soon after the IPO in June could spark lawsuits or opposition from shareholders, the report said, citing sources.

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