China’s $1B fine on Didi could end the mobility giant’s troubled year

Didi, the Chinese ride hailing behemoth that has undergone a year of regulatory overhaul, faces a fine of over 8 billion yuan ($1.28 billion) from the country’s authorities, The Wall Street Journal and Reuters reported.
The company did not immediately respond to a request for comment. Along with the fine, the regulators will also allow Didi to restore its app to domestic app stores and proceed with its plan to list its shares on the Hong Kong Stock Exchange, according to the reports.
If the move materializes, it could wrap up a year of turbulence at SoftBank-backed Didi, once celebrated

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