New twist in the Didi Chuxing affair. On July 29, the company denied the hypothesis of a withdrawal from the New York Stock Exchange, announced by the Wall Street Journal. The app wants to ease tensions with China, which are gradually escalating.
The company denies rumors about its exit from the stock market
“The company’s Beijing headquarters held discussions with key bankers, regulators and investors on how to resolve some of the issues after Didi broke into the New York Stock Exchange on June 30”, affirmed the Wall Street Journal in his article, citing sources close to the case. According to the American daily, a withdrawal from the Stock Exchange, which implies a public offer to buy back the securities, was one of the options initially possible.
–
Amazon will have to pay a fine of 746 million euros for breach of private data in Europe
–
–
Nevertheless, Didi Chuxing was quick to deny this information. “The rumors about the exit from the Stock Exchange are false”, the company wrote in a message posted on Weibo. She added that she was cooperating with the Chinese Cyberspace Administration (CAC) regarding cybersecurity exam of which it is the subject.
The Chinese threat hangs over Didi
Lately, Didi Chuxing faces many sanctions from the country’s authorities. In question, its listing on the New York Stock Exchange, to which the Chinese government was not favorable, as well as its management of user data. Afterwards, 25 of its apps have been deleted download platforms. Mid-July, Chinese police and state security have disembarked at its premises to review its management of personal data.
As a consequence, of heavy penalties would await Didi Chuxing, such as a delisting, the suspension of some of its activities, the arrival in its shareholding of a public investor or a record fine. For the moment, no decision has been taken by Beijing. However, the Ministry of Transportation, one of the seven agencies leading the investigation into the company’s cybersecurity, has strengthened its positions in a statement published July 30. He underlines there “Specific problems and threatens to impose compliance deadlines”.
Although the firm was not directly cited, it is the latest target for the Middle Empire. According to the press release, the priority would now be “Enhanced regulation and supervision” applications like Didi Chuxing, in particular to correct “Contradictions and unresolved issues”.
–
