May 27 (Reuters) – China’s FAW group plans to buy a sizable stake in Didi Global, days after the ride-hailing giant received shareholder approval to delist in the United States, Reuters reported on Friday. Bloomberg news agency.
Chinese state-owned automaker FAW Group has reportedly approached Didi executives and expressed interest in becoming a major shareholder in the company, the agency said, citing sources.
The title Didi listed in the United States took 9.2% to 2.02 dollars in pre-market.
Didi is struggling to get her business back to normal after angering Chinese regulators by going ahead with its $4.4 billion IPO in New York in June last year.
Regulators had asked it to freeze the operation pending the results of a cybersecurity audit of its data practices.
FAW Group is committed to helping Didi resolve data security issues, paving the way for a listing in Hong Kong, Bloomberg adds.
FAW and Didi did not immediately respond to requests for comment from Reuters. (Report Ann Maria Shibu and Shubham Kalia in Bangalore; French version Kate Entringer, editing by Matthieu Protard)