Jack Ma is giving up controlling rights of Ant Group Co., as the billionaire further retreats from his online empire following the country’s unprecedented tech crackdown. The company will give 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma’s voting control of Ant, according to an announcement on Saturday. The … Read more
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more
Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s … Read more
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