Billionaire Jack Ma plans to cede control of China's Ant Group: Report

BEIJING: Chinese billionaire Jack Ma plans to give up control of financial technology company Ant Group in an effort to move away from affiliate Alibaba, the Wall Street Journal reported on Thursday .Shares in US-listed e-commerce giant Alibaba slipped 0.6 per cent to US$102.20 in premarket trade after briefly jumping higher.

In April last year, Reuters reported that Ant Group was exploring options for Ma to divest his stake in the financial technology giant and give up control. Once outspoken, Ma has kept an extremely low public profile ever since, as regulators reined-in the country's technology giants after years of a laissez-faire approach that drove breakneck growth.

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Jack Ma plans to give up control of Ant Group - WSJChinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group Holding Ltd, the Wall Street Journal reported on Thursday.Alibaba did not immediately respond to a Reuters request for comment. The company's U.S.-listed
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Jack Ma plans to give up control of Ant Group - WSJChinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group Holding Ltd, the Wall Street Journal reported on Thursday.Alibaba did not immediately respond to a Reuters request for comment. The company's U.S.-listed
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »