E-commerce giant Alibaba Group Holding has agreed to buy a 10% stake in a Shanghai-based state-owned online ride-hailing service, joining the flood of investment into the sector since market leader Didi Global had 25 apps removed from domestic app stores earlier this year amid a probe into violations of data privacy and security.
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Alibaba revs up ride-hailing investment amid Didi regulatory woes
E-commerce giant buying 10% stake in Shanghai-based Letzgo
Alibaba has announced two investments in the shared-transport sector over the past two weeks. © Reuters
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