Didi Acquisition of Uber Was Pre-planned, Will Investigate: China
China's commerce ministry is investigating the planned acquisition by ride-hailing firm Didi Chuxing of U.S. rival Uber Technologies Inc's China unit over anti-monopoly concerns, the ministry's spokesman said on Friday.
Shen Danyang told reporters the Ministry of Commerce would look to protect fair market competition and consumer interests in the deal, which will create a roughly $35 billion giant dominating China's car-hailing market.
A representative for Uber could not be reached immediately for comment. A Didi spokeswoman said: "We are in communication with the authorities."
It is unclear how the investigation could affect Didi's planned acquisition and subsequent integration of Uber's China unit, already the top two players in the market. That had raised monopoly concerns as D...