Ride-hailing giant Didi Chuxing refutes Ofo takover rumours
10 October, 2018
Chinese ride-hailing giant Didi Chuxing says it has no intention of acquiring Ofo, one of the major bike-sharing operators in the country, The Paper reported.
Didi also vowed that it will continue to support the independent development of the bike-sharing entrepreneur.
From C round financing in 2016 to the latest E round, Didi has parked a total US$350 million in Ofo. As an investor, Didi has never exercised a veto, and says it will never use the right in the future.
Ofo also made an announcement to deny a recent report about Didi’s alleged intention to take over Ofo. The report claimed there is a shareholder who is attempting to drive down the price by starting rumours of a malicious acquisition. It is entirely false, the company added.
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