Chinese bike-sharing startup Ofo said to weigh bankruptcy

Chinese bike-sharing startup Ofo said to weigh bankruptcy

Ofo bike-sharing bicycles are pictured in Singapore, August 29, 2017. REUTERS/Edgar Su

Chinese bike-sharing startup Ofo, backed by Alibaba Group Holding Ltd, has “immense” cash flow problems and has considered applying for bankruptcy, the Financial Times reported on Wednesday.

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