Insider: billion fine for DiDi

According to insiders, Chinese authorities are preparing a fine of more than €1 billion against ride service provider DiDi. The payment is for more than ¥8 billion (equivalent to €1.25 billion), about five percent of DiDi’s annual revenue, people familiar with the matter said on Tuesday. The Wall Street Journal reported on it first. The fine could end the investigation into the company’s illegal cybersecurity practices and pave the way for lifting restrictions on the business.