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Ant Group Reaches Agreement With Government to Become a Financial Holding Company

By Shai Oster
· · Source: Bloomberg

Ant Group has reached an agreement to restructure itself as a financial holding company, which would subject Jack Ma’s fintech giant to similar capital requirements and other restrictions that govern banks, Bloomberg reported. Under the arrangement with Chinese regulators, all of Ant’s businesses, including food delivery, would be folded into the holding company, the report said. The...

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