Didi ‘weighs’ $6b SoftBank investment
Chinese ride-sharing giant Didi Chuxing is weighing whether to take a $6 billion investment backed by SoftBank Group Corp, that could dilute the stakes held by existing backers such as Apple Inc, people familiar with the matter say. The Beijing-based company that ousted Uber from China now needs to balance the interests of its more than 100 investors, including Alibaba Group Holding Ltd and China’s sovereign wealth fund, the sources said. Chinese social media giant Tencent Holdings Ltd and Apple are considering whether to add to their existing holding on a pro-rata basis to avoid a dilution of their stakes, the sources added. It was unclear if the money would be coming from the Japanese company itself or its yet-to-close $100 billion SoftBank Vision Fund, they said. Industry on Monday signed a memorandum of understanding on strategic cooperation with the Bank of China in Johannesburg. The agreement will enable both parties to treat each other as a preferred partner and share information on investment opportunities. It will enable them to maximize their advantages in new mutual investment promotion campaigns. The accord will also let them join hands to support companies in both countries for more profound investments, as well as with economic and trade cooperation.