Softbank fall steepens after report that Chinese regulators have asked Didi to delist from U.S.



The Didi app has a navigation map on it that can be found on a mobile phone in front of the app logo.

The shares of SoftBank extended their losses on Friday after it was reported that Chinese regulators have asked Didi's executives to formulate a plan to delist from the U.S.

At the lunch break, SoftBank shares in Japan were down. Didi was owned by SoftBank's Vision Fund.

The New York Stock Exchange is concerned about the leak of sensitive data and wants Didi to be delist, according to a report. The people who asked not to be identified were cited by the news agency.

CNBC couldn't confirm the report. When contacted by CNBC, Didi refused to comment.

The Cyberspace Administration of China has asked Didi to work out the details for a delisting which will be subject to government approval.

Didi could either go for a privatization or a listing in Hong Kong after delisting in the U.S.

A Hong Kong float would likely be at a discount to Didi's share price in the U.S., according to a report.

Beijing is pushing to reign in technology giants and put them under tighter regulation. Didi is a special case. The company had an IPO in the US in June.

Didi was accused of drawing the ire of regulators by pushing ahead with an IPO without resolving outstanding cybersecurity issues. Didi is China's largest ride-sharing app and holds a lot of data.