China chose a new victim after war with Alibaba

PRC authorities chose a new victim after the war with Ant Group (Alibaba’s daughter) Jack Ma. The SAMR regulator suspected the largest Chinese taxi service DIDI in antitrust disorders, writes Reuters.

The investigation may interfere with the IPO (exit to the stock exchange) DIDI in the USA. According to sources of publication, the service is accused of displacing smaller competitors from the market and in opaque pricing. The regulator called on the company to conduct a “self-technical” and comply with legislation, otherwise fines are possible.

IPO may be the largest placement of the Chinese company in New York since the exit to the Alibaba Exchange in 2014. The service calculates up to 100 billion dollars.

Earlier, the Chinese authorities fell on the Ant Group. They told to suspend the placement of Ant Group shares, published on the Chinese stock market. Then the company was forced to transform her business, giving more control to the state.

During the confrontation of power, a number of restrictions on the work of the company were imposed and blocked its applications. In April Alibaba fined to a record $ 2.78 billion for China.

/Media reports.