Didi set to relaunch in China, braces for fine

Ride-hailing giant Didi is getting ready to relaunch its apps in China.

That's according to Reuters sources.

They say the firm expects a probe by Beijing regulators will be wrapped up by the end of the year.

Back in July the powerful Cyberspace Administration of China ordered online stores to remove 25 of Didi's apps.

That came just days after the firm listed its shares in New York.

Didi irked watchdogs by pressing ahead with the share sale when it had been asked to put it on hold pending a review of its data practices.

The CAC subsequently told the company to stop registering new users, citing national security concerns.

It accused the firm of collecting data illegally.

On Thursday (November 11) Didi would only say that it was cooperating fully with authorities.

However, the sources say it has been amending its apps to comply with China's new Personal Information Protection Law, which took effect this month.

One of the sources says Didi still expects a big fine, and has set aside $1.6 billion to cover the penalty.

Even so, the firm's New York shares surged in pre-market trade following the Reuters report.

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