diff --git a/gio/gdbusconnection.c b/gio/gdbusconnection.c
index 85190e919..a2154a25d 100644
--- a/gio/gdbusconnection.c
+++ b/gio/gdbusconnection.c
@@ -2642,7 +2642,26 @@ initable_init (GInitable     *initable,
       g_propagate_error (error, g_error_copy (connection->initialization_error));
     }
 
-  g_atomic_int_or (&connection->atomic_flags, FLAG_INITIALIZED);
+  /* Don't cache canceled errors. Otherwise other concurrent users of the same connection
+   * object will be canceled as well. */
+  if (g_error_matches (connection->initialization_error, G_IO_ERROR, G_IO_ERROR_CANCELLED))
+    {
+      if (connection->worker != NULL)
+        {
+          _g_dbus_worker_stop (connection->worker);
+          connection->worker = NULL;
+          if (alive_connections != NULL)
+            g_warn_if_fail (g_hash_table_remove (alive_connections, connection));
+        }
+      g_clear_error (&connection->initialization_error);
+      g_clear_object (&connection->stream);
+      g_clear_object (&connection->auth);
+      g_clear_object (&connection->credentials);
+      g_clear_pointer (&connection->guid, g_free);
+      connection->capabilities = 0;
+    }
+  else
+    g_atomic_int_or (&connection->atomic_flags, FLAG_INITIALIZED);
   g_mutex_unlock (&connection->init_lock);
 
   return ret;
diff --git a/gio/tests/gdbus-connection.c b/gio/tests/gdbus-connection.c
index 7909123c3..1be1a2f6e 100644
--- a/gio/tests/gdbus-connection.c
+++ b/gio/tests/gdbus-connection.c
@@ -1215,6 +1215,70 @@ test_connection_serials (void)
 
 /* ---------------------------------------------------------------------------------------------------- */
 
+static void
+get_connection_cb_expect_cancel (GObject       *source_object,
+                                 GAsyncResult  *res,
+                                 gpointer       user_data)
+{
+  GDBusConnection *c;
+  GError *error;
+
+  error = NULL;
+  c = g_bus_get_finish (res, &error);
+
+  /* unref here to avoid timeouts when the test fails */
+  if (c)
+    g_object_unref (c);
+
+  g_assert_error (error, G_IO_ERROR, G_IO_ERROR_CANCELLED);
+  g_assert_null (c);
+
+  g_error_free (error);
+}
+
+static void
+get_connection_cb_expect_success (GObject       *source_object,
+                                  GAsyncResult  *res,
+                                  gpointer       user_data)
+{
+  GDBusConnection *c;
+  GError *error;
+
+  error = NULL;
+  c = g_bus_get_finish (res, &error);
+  g_assert_no_error (error);
+  g_assert_nonnull (c);
+
+  g_main_loop_quit (loop);
+
+  g_object_unref (c);
+}
+
+static void
+test_connection_cancel (void)
+{
+  GCancellable *cancellable, *cancellable2;
+
+  g_test_summary ("Test that cancelling one of two racing g_bus_get() calls does not cancel the other one");
+
+  session_bus_up ();
+
+  cancellable = g_cancellable_new ();
+  cancellable2 = g_cancellable_new ();
+
+  g_bus_get (G_BUS_TYPE_SESSION, cancellable, get_connection_cb_expect_cancel, NULL);
+  g_bus_get (G_BUS_TYPE_SESSION, cancellable2, get_connection_cb_expect_success, NULL);
+  g_cancellable_cancel (cancellable);
+  g_main_loop_run (loop);
+
+  g_object_unref (cancellable);
+  g_object_unref (cancellable2);
+
+  session_bus_down ();
+}
+
+/* ---------------------------------------------------------------------------------------------------- */
+
 static void
 test_connection_basic (void)
 {
@@ -1301,6 +1365,7 @@ main (int   argc,
   g_test_add_func ("/gdbus/connection/signal-match-rules", test_connection_signal_match_rules);
   g_test_add_func ("/gdbus/connection/filter", test_connection_filter);
   g_test_add_func ("/gdbus/connection/serials", test_connection_serials);
+  g_test_add_func ("/gdbus/connection/cancel", test_connection_cancel);
   ret = g_test_run();
 
   g_main_loop_unref (loop);