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Jack Ma Gives Up Control of Ant Group

By
Juro Osawa
· · Source: The Information

Alibaba founder Jack Ma will give up his control of Chinese financial technology giant Ant Group. The decision, announced by Ant on Saturday, comes after the Chinese government’s severe regulatory crackdown on the company over the past two years. In late 2020, Beijing forced Ant, Alibaba’s fintech affiliate, to scrap its $37 billion initial public offering. The last-minute cancellation of the...

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