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China ride sharing giant Didi mulls $6 bln SoftBank-backed investment: Bloomberg

Published 03/27/2017, 11:44 PM
Updated 03/27/2017, 11:50 PM
© Reuters.  China ride sharing giant Didi mulls $6 bln SoftBank-backed investment: Bloomberg

SHANGHAI (Reuters) - Chinese ride sharing firm Didi Chuxing is considering a $6 billion investment backed by Japan's SoftBank Group Corp, as it looks to take on global rivals such as Uber Technologies Inc [UBER.UL], Bloomberg reported on Tuesday citing sources familiar with the matter.

Didi, backed by global tech giants Apple Inc (NASDAQ:AAPL) and Tencent Holdings Ltd, is facing regulatory challenges at home over its drivers even as it looks to diversify from its core ride-hailing business to find new drivers for growth.

The ride-hailing platform bought out Uber's China unit last year following a bruising two-year battle in a deal that created a merged entity then worth around $35 billion and that gave Uber a one-fifth stake in the Chinese firm.

Didi did not immediately respond to requests for comment.

A Softbank spokesman declined to comment.

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