Didi weighs handing over more data control to appease China: Bloomberg News

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Aug 6 (Reuters) – Ride-sharing service Didi Global Inc is considering handing over control of its valuable data as part of its efforts to resolve a Chinese regulatory investigation, Bloomberg News reported on Friday, citing people familiar with the matter.

Days after Didi’s debut on the market, China’s cyberspace regulator launched an investigation into the company and asked it to stop registering new users, citing national security and the public interest.

Didi, which recently went public in New York after raising $ 4.4 billion in an initial public offering, has put forward proposals to appease the regulator, including granting the management of its data to a private third party, said Friday the report.

Regulators have also shown a preference for the third party to be controlled by the state, Bloomberg said, citing one source.

The firm’s shares on the New York Stock Exchange were up about 5% before the opening of the session. Didi did not immediately respond to Reuters’ request for comment.

Didi had denied last month a media report that said it was considering going private to appease the Chinese authorities and make up for investors’ losses since it was listed in the United States.

(Report by Chavi Mehta in Bengaluru; edited in Spanish by Carlos Serrano)

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