SoftBank confirms $5b in China ride hailing firm Didi Chuxing

The Didi Chuxing application is displayed on a smartphone screen in this arranged photograph taken in Shanghai, China, on Sunday, May 22, 2016. Photo: Bloomberg

SoftBank Group Corp said it has agreed to invest $5 billion in China‘s Didi Chuxing, confirming it led a recent fund-raising round by the ridehailing firm that sources said valued Didi at more than $50 billion.

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