Talk about hitting the brakes. At the start of the month, China’s internet regulator opened a cybersecurity probe into ride-hailing group Didi only a few days after the company raised more than USD $4 billion in a New York initial public offering IPO.
Following the announcement, the Cyberspace Administration of China CAC suspended all additional app downloads in the country, but allowed the group to continue operating normally.
The latest clampdown extends Beijing’s reach to reign on one of the country’s most affluent technology companies. In less than a year, Ant Group’s $35 billion dual-listed IPO was suspended days before trading, while an anti-monopoly probe fined...
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