Chinese regulators step up pressure on Ant Group
Equity investments by Jack Ma’s fintech empire under review, sources say
31 December 2020 - 11:07
Hong Kong — Chinese regulators are reviewing equity investments held by the Ant Group in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billionaire Jack Ma’s fintech empire.
Regulators are considering whether to instruct Ant to divest some of its investments, mainly in technology and fintech start-ups, if they violate any rules such as creating unfair competition in the market, one of the three sources said...
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