Friday, 24 March, 2023

China’s Ant look for options for Jack Ma's exit

<p>Ant Group, as per news agency Reuters report, is looking for ways for founder Jack Ma to divest his stake and give up control in the fintech firm. Ma owns only a 10% stake in Ant but exercises control via related entities, as per Ant&#39;s IPO prospectus. Chinese regulators, in a meeting earlier, had hinted to the Ant&#39;s officials that Ma&#39;s exit could help them to avoid Beijing&rsquo;s intense scrutiny of its business, said the report citing a source.</p> <p>&nbsp;</p>