Ofo investors Didi Chuxing and Ant Financial are exploring the possibility of a joint acquisition of the bicycle rental platform.
Ride hailing service Didi Chuxing and Ant Financial, the financial services affiliate of e-commerce group Alibaba, have begun discussions to jointly acquire China-based, corporate-backed bicycle rental service Ofo, Reuters reported today.
The prospective deal would value Ofo at up to $2bn, a source with direct knowledge of the discussions told Reuters, adding that the price could fall if the due diligence process indicates its financial results will be lower than expected.
Ofo’s dockless bicycle sharing platform has more than 200…
