China’s Didi denies report of plan to buy back shares

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BEIJING (AP) — Didi Global Inc. has denied a report by The Wall Street Journal that the ride-hailing service was considering buying back its U.S.-traded shares after its June market debut was disrupted by Chinese government orders to overhaul data security. The Journal, citing unidentified sources, said buying back the shares was one option being considered by Didi and its bankers to resolve investor complaints. Didi’s share price has fallen about 25% since its June 30 debut after the company was blocked from adding new customers while it overhauled how it handled their data. Didi said in a statement that the report “is not true” but gave no details of the government review or the company’s plans.

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