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Central government officials are opposed to the set of sanctions proposed by the Cyberspace Administration of China, which is ultimately delaying DiDi’s plans to list in Hong Kong and delist in the United States.
The regulator was hoping to finalize the probe and release results this month, however, it is uncertain whether this process will be completed soon amid the interference from the central government officials.
According to Bloomberg, some investors were briefed about the latest developments with “at least one of them was unhappy.”
The ride-sharing company is backed by SoftBank, Fidelity, Blackrock (NYSE:BLK), etc.
Didi stock price initially soared 9% on the Bloomberg report before erasing all gains to now trading 2.1% in the red.
By Senad Karaahmetovic
