Chinese automaker FAW Group considers buying stake in Didi Global: Report

Stocks

The state-owned FAW Group has reached out to Didi’s top executives and expressed its interest in becoming a major shareholder in the firm, the report said.

Reuters

May 27, 2022 / 03:22 PM IST

Chinese automaker FAW Group is considering acquiring a significant stake in ride-hailing giant Didi Global Inc, Bloomberg News reported on Friday, citing sources.

The state-owned FAW Group has reached out to Didi’s top executives and expressed its interest in becoming a major shareholder in the firm, the report said.

U.S.-listed shares of Didi were up about 6% at $ 1.96 during early premarket hours.

The report comes after shareholders in Didi approved its U.S. stock delisting plan earlier this week.

Didi did not immediately respond to a Reuters’ request for comment.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

‘); } else{ $ (‘#outbrain_8591921’).html(”); } }