Alibaba, Ant Financial to re-up in China’s Didi Chuxing
Alibaba Group and its financial affiliate Ant Financial plan to invest a further $400 million in Didi Chuxing. This comes as the Chinese ride-hailing app operator is raising a new round of fund said to be as large as $2.5 billion.
Alibaba has agreed to invest $200 million while Ant Financial will put in the same amount, the Chinese e-commerce giant said in its annual report. As part of the transaction, Didi will adopt navigation...
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