Editor’s note: Rumors are rife in China, especially so in a hotly contested area like transportation and O2O services. This news is unconfirmed and the veracity of Mobike’s financial and operational situation as outlined is unclear.

Update 10:02 04 Apr 2018: The purchase has been confirmed by multiple sources. Follow our coverage here.

Rumors of Chinese e-commerce and ride-hailing company Meituan-Dianping’s plan to acquire bike rental firm Mobike are circulating on Chinese social media.

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Chris Udemans

Christopher Udemans is a Shanghai-based technology reporter. He covers Chinese artificial intelligence, mobility, and cybersecurity. You can contact him at chrisudemans [at] technode [dot] com.