News Snapshot:
China is reportedly weighing “unprecedented” sanctions for Didi after the ridesharing giant went public in the US in June, despite a crackdown by his home country’s cybersecurity regulator. The Chinese government can forcibly put a state-owned investor on the company’s board of directors or force Didi, popularly known as the “Chinese Uber,” to delist or withdraw the $ 4.4 billion in shares it owns. They were listed on the New York Stock Exchange last month, Bloomberg reported Thursday, citing people familiar with the matter. The more conventional punishments regulators are reportedly considering include imposing a fine or forcing the company...
