Didi suspends UK launch plans amid Chinese crackdown on tech companies – Telegraph

Aug 23 (Reuters) – Chinese rideshare giant Didi Global Inc (DIDI.N) has suspended its launch plans in Britain and mainland Europe, The Telegraph reported on Monday amid a regulatory backlash at home on data confidentiality.

Staff working on planned launches were told they were facing possible layoff and Didi stopped hiring in Britain, withdrawing launch plans for at least a year, according to the report. (https://bit.ly/2WaN29Z)

“We continue to explore new markets, liaising with relevant stakeholders in each and thinking about when to present our services,” said a spokesperson for Didi, not mentioning plans to launch in the UK. United.

“As soon as we have more news in additional new markets, we look forward to sharing.”

Chinese companies have been caught in a pincer movement with heightened US surveillance on one side and a nationwide regulatory crackdown on the country’s huge internet sector.

The move has rocked tech giants in the country and Didi is under cybersecurity review, as China revamps its privacy and data security policy to ensure secure storage of user data. . Read more

Didi, who listed its shares in New York in June after raising $ 4.4 billion in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan.

Reporting by Eva Mathews in Bengaluru; Editing by Anil D’Silva and Devika Syamnath

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