China ride sharing giant Didi mulls $6 billion SoftBank-backed investment - Bloomberg

Reuters  |  SHANGHAI 

(Reuters) - Chinese ride sharing firm is considering a $6 billion backed by Japan's Group Corp, as it looks to take on global rivals such as Uber Technologies Inc, reported on Tuesday citing sources familiar with the matter.

Didi, backed by global tech giants Apple Inc and Tencent Holdings Ltd, is facing regulatory challenges at home over its drivers even as it looks to diversify from its core ride-hailing business to find new drivers for growth.

The ride-hailing platform bought out Uber's unit last year following a bruising two-year battle in a deal that created a merged entity then worth around $35 billion and that gave Uber a one-fifth stake in the Chinese firm.

did not immediately respond to requests for comment.

A spokesman declined to comment.

(Reporting by Adam Jourdan in and Shida Yoshiyasu in TOKYO; Editing by Randy Fabi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

China ride sharing giant Didi mulls $6 billion SoftBank-backed investment - Bloomberg

SHANGHAI (Reuters) - Chinese ride sharing firm Didi Chuxing is considering a $6 billion investment backed by Japan's SoftBank Group Corp, as it looks to take on global rivals such as Uber Technologies Inc, Bloomberg reported on Tuesday citing sources familiar with the matter.

(Reuters) - Chinese ride sharing firm is considering a $6 billion backed by Japan's Group Corp, as it looks to take on global rivals such as Uber Technologies Inc, reported on Tuesday citing sources familiar with the matter.

Didi, backed by global tech giants Apple Inc and Tencent Holdings Ltd, is facing regulatory challenges at home over its drivers even as it looks to diversify from its core ride-hailing business to find new drivers for growth.

The ride-hailing platform bought out Uber's unit last year following a bruising two-year battle in a deal that created a merged entity then worth around $35 billion and that gave Uber a one-fifth stake in the Chinese firm.

did not immediately respond to requests for comment.

A spokesman declined to comment.

(Reporting by Adam Jourdan in and Shida Yoshiyasu in TOKYO; Editing by Randy Fabi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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