Reuters was first to report that China’s market regulator has begun an antitrust probe into Didi Chuxing, just as the ride-hailing giant is pushing ahead with what could be the largest initial public offering in the United States this year. The probe is the latest in a sweeping crackdown on China’s so-called “platform” companies, including Alibaba Group Holding Ltd and Tencent Holdings Ltd. China’s market regulator, the State Administration for Market Regulation (SAMR), is investigating whether Didi used any competitive practices that squeezed out smaller rivals unfairly, sources told Reuters.
Topics of Interest: Business & Finance
Type: Reuters Best
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story