Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central …
Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms. …
HONG KONG, June 17 (Reuters) – China’s central bank has accepted Ant Group’s application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma’s …
China’s central leadership has given billionaire Jack Ma’s Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on …
HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …
HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently the biggest shareholder of …
HONG KONG – Asian insurer FWD Group, controlled by Hong Kong billionaire Richard Li, is contemplating shifting its $2-$3 billion share sale from the United States to Hong Kong, said two sources with direct knowledge of the matter. The Hong …
HONG KONG – Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw …
Ant Group Co Ltd is considering folding most of its online financial businesses, including consumer lending, into a holding company that would be regulated like traditional financial firms, two people with direct knowledge of the matter said. The regulators, mainly …
HONG KONG/NEW YORK — China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma. The …
