Chinese ride-hailing giant, Didi Chuxing, has denied multiple media reports that the Beijing municipal government is pursuing a proposal to invest in the company, putting it under state control, reports the South China Morning Post.
“Foreign media’s claim about Beijing’s municipal government coordinating relevant companies to invest in Didi is untrue,” the company said in a statement published on Weibo on Saturday afternoon.
Shouqi Group – part of the influential Beijing Tourism Group – and other firms based in the nation’s capital would acquire a stake in Didi in the form of a “golden share,” with a board seat and veto power, under a preliminary proposal reported by Bloomberg on Friday, citing people familiar with the matter.