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09-02-2016, 06:00 PM
Didi-Uber deal draws probe by China’s antitrust watchdog
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Chinese regulators have begun an investigation into the landmark merger of Didi Chuxing and Uber Tech**logies Inc.’s domestic business, initiating scrutiny of a deal (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal) that would create a $35 billion entity with overwhelming control of the ride-sharing arena.
The Ministry of Commerce has met twice with Didi executives after the deal was an**unced in August, requesting documents and other supporting material, ministry spokesman Shen Danyang told reporters Friday.*
The government is also seeking a deeper understanding of the ride-sharing sector, he said.
Didi’s decision to buy out Uber’s Chinese operation would give it control of almost 90 percent of the ride-hailing market. Yet the odds are slim that the ministry will nix such a high-profile deal involving a well-connected national corporate champion, legal and industry experts have said (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal).* Read more... (http://mashable.com/2016/09/02/didi-uber-china-probe/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Ride Hailing Apps (http://mashable.com/category/ride-hailing-apps/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Uber (http://mashable.com/category/uber/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Didi Chuxing (http://mashable.com/category/didi-chuxing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/0NHQ4aDAk3o
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Chinese regulators have begun an investigation into the landmark merger of Didi Chuxing and Uber Tech**logies Inc.’s domestic business, initiating scrutiny of a deal (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal) that would create a $35 billion entity with overwhelming control of the ride-sharing arena.
The Ministry of Commerce has met twice with Didi executives after the deal was an**unced in August, requesting documents and other supporting material, ministry spokesman Shen Danyang told reporters Friday.*
The government is also seeking a deeper understanding of the ride-sharing sector, he said.
Didi’s decision to buy out Uber’s Chinese operation would give it control of almost 90 percent of the ride-hailing market. Yet the odds are slim that the ministry will nix such a high-profile deal involving a well-connected national corporate champion, legal and industry experts have said (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal).* Read more... (http://mashable.com/2016/09/02/didi-uber-china-probe/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Ride Hailing Apps (http://mashable.com/category/ride-hailing-apps/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Uber (http://mashable.com/category/uber/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Didi Chuxing (http://mashable.com/category/didi-chuxing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/0NHQ4aDAk3o