By Julie Zhu
HONG KONG (Reuters) - 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 a line under Beijing s scrutiny of its business, according to a source familiar with regulators thinking and two people with close ties to the company.
Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma s control of Ant, exercised through a complicated structure of investment vehicles. The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government. https://on.wsj.com/2QvkHbc
China s Ant explores ways for Jack Ma to exit as Beijing piles pressure: Sources
SECTIONS
Last Updated: Apr 17, 2021, 06:09 PM IST
Share
Synopsis
Ant denied that a divestment of Ma s stake was ever under consideration. Divestment of Mr. Ma s stake in Ant Group has never been the subject of discussions with anyone, an Ant spokesman said in a statement.
Any move would need Beijing s approval, both sources with knowledge of the company s thinking said.
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 a line under Beijing s scrutiny of its business, according to a source familiar with regulators thinking and two people with close ties to the company.
Article content
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 a line under Beijing’s scrutiny of its business, according to a source familiar with regulators’ thinking and two people with close ties to the company.
Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma’s control of Ant, exercised through a complicated structure of investment vehicles. The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government. https://on.wsj.com/2QvkHbc
HONG KONG, April 17 (Reuters): Ant Group is exploring options for founder Jack Ma (
pic) 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 a line under Beijing s scrutiny of its business, according to a source familiar with regulators thinking and two people with close ties to the company.
Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma s control of Ant, exercised through a complicated structure of investment vehicles.
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 a line under Beijing s scrutiny of its business, according to a source familiar with regulators thinking and two people with close ties to the company.
Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma s control of Ant, exercised through a complicated structure of investment vehicles. The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government.