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Taiwan’s Foxconn invests in Chinese ride-hailing Didi Chuxing

Taiwan’s Foxconn has invested $119.9 million in Chinese ride-hailing firm Didi Chuxing. Indeed, the world’s largest electronics manufacturer said on Thursday, in a deal that could value the start-up at about $33.7 billion.

So, with the addition of Foxconn, Didi’s roster of investors is increasingly a who’s who of global tech giants, including the likes of Apple Inc (AAPL.O), Uber Technologies Inc [UBER.UL] and Chinese firms Tencent Holdings Ltd (0700.HK), Alibaba Group Ltd (BABA.N) and Baidu Inc (BIDU.O).

The deal was made public in a stock exchange filing by Hon Hai Precision Industry Co Ltd (2317.TW), the trading name of Foxconn. In the statement, Foxconn said its subsidiary Foxteq Holdings Inc would own 0.355 percent of Didi, one of China’s highest-valued start-ups.

Hence, the transaction gives Didi a valuation of $33.7 billion, according to Reuters’ calculations.

Reuters (08 Sept)

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